Cryptocurrency owner made $ 9 million on a little-known cryptocurrency in just a few hours

Editor’s note: not financial advice!

An unknown trader made millions of dollars in profit within hours of investing in the new memecoin. According to chain data, the token operates on the Solana (SOL) network.

According to Lookonchain analysts who track blockchains, the investor spent 178.2 SOL, worth $ 35,000, to buy 4.41 billion cat in a dogs world (MEW) tokens. The value of 4.41 billion MEW tokens increased 255 times to $ 8.9 million. According to analysts, the investor’s unrealized profit is about $ 8.89 million.

The surge in MEW’s price came amid a recent surge in interest in the memonet sector. The rise in the value of the little-known cryptocurrency not only reflects the growing confidence in the memcoin sector, but also indicates a change in preferences among Solana whales looking for profitable investment opportunities.

A few days ago, Lookonchain analysts drew attention to a trader who spent almost 10,000 SOL to accumulate about 70 million Slerf tokens (SLERF). Lookonchain claims that the trader did not plan to keep his SLERF stack for long, as he immediately unloaded it at the first opportunity.

No Worries strongly advises readers not to invest in dubious crypto projects and little-known digital assets!