Cryptocurrency that brought $ 1 million in profit to a novice investor is named

Editor’s note: not financial advice!

An unknown trader earned a million dollars on the «cat» memecoin michi (MICHI). The lucky crypto community member’s investment in the coin amounted to 578 Solana (SOL).

LookonChain analysts drew attention to the success story of a trader who managed to make money on $MICHI. In their microblog, they shared an analysis of the steps the user took to get a million.

According to LookonChain’s observations, the trader bought memcoin a few months ago in April. This was the period when cryptocurrency trading was launched. Usually, early investors sell a new coin amid the first burst of growth. The trader decided to keep his memecoins.

Between April 8 and April 15, 2024, the investor bought 8.6 MICHI at an average rate of $ 0.1 186 for 578 Solana (SOL), which was worth $ 103,000 at the time of the transaction.

on July 4, 2024, the trader sold all the coins for 1.34 million USD Coin (USDC). At the time of the transaction, MICHI was trading at $ 0.1557.

At that moment, the value of MICHI under the investor’s control reached $ 5 million. It is not known why the crypto community member did not take advantage of the outbreak of memcoin growth at the time.

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