TL;DR

• A dealer remodeled $3 million from investing in several types of meme cash.
• Whereas some traders have achieved life-changing earnings from such actions, the sector’s infamous volatility additionally poses vital dangers of losses.

The meme coin sector continues to spew tokens that have substantial worth will increase in a brief time period, thus providing traders the prospect to make substantial earnings. Lookonchain revealed the case of 1 such dealer who generated over $3 million in lower than three days.

The mysterious individual initially invested 9,894 SOL within the latest Solana-based meme coin, Slerf (SLERF). As a result of asset’s worth appreciation, the dealer’s return equaled 25,001 SOL, which means a revenue of 15,107 SOL.

The investor then distributed 2,122 SOL to SNAP ($NAP), profiting 2,799 SOL. The opposite two meme cash they handled embody NOSTALGIA (NOS) and NIBBA (NIBBA).

The entire revenue of all transactions equaled 19,205 SOL, value roughly $3.5 million (as of the second of writing these traces).

In lower than 3 days, a sensible dealer made 19,205 $SOL($3.34M) by buying and selling #MEMEcoins!

He traded 4 #MEMEcoins and made cash on each!https://t.co/o4b5J6iKcX pic.twitter.com/XK5y73qVa9

— Lookonchain (@lookonchain) March 19, 2024

This isn’t the primary latest case the place an investor made life-changing earnings attributable to delving into the ecosystem of a sure meme coin.

As CryptoPotato reportedone investor remodeled $1.5 million throughout SHIB’s newest bull run, whereas one other was sitting on a paper revenue of $5.3 million after distributing funds to dogwifhat (WIF).

Then again, there are quite a few examples of merchants who’ve skilled devastating losses as a result of notorious volatility of the asset class. These prepared to keep away from some widespread errors when coping with meme cash ought to watch our devoted video beneath: