Cryptocurrency trader earns $ 12 million in three hours on CAR meme coin

Note: not investment advice!

An unknown trader was able to turn $ 5000 into $ 12 million by investing in the CAR meme-coin. In just three hours, he increased his deposit by 2450 times, which was one of the most profitable trades on the crypto market this year.

According to Lookonchain, the trader initially spent 5 SOL (about $ 5000 at the time) to buy 46.57 million CAR immediately after the token’s contract address was published. Three hours later, he sold half of his assets for 8395 SOL (about $ 1.7 million), leaving another 23.92 million CAR. At the time of the publication of the analytical report, they were valued at $ 10.5 million, but later their value dropped to $ 2.8 million.

The CAR memecoin was launched by the President of the Central African Republic Faustin-Archange Touadera and is positioned as an experiment to promote the country’s national development. At the time of writing, the value of the asset is $ 0.12, and its market capitalization exceeds $ 116 million.

This story once again demonstrates that the meme-coin market remains extremely volatile and can bring both significant profits and high risks.

The No Worries editorial team strongly advises readers not to invest their own funds in dubious crypto projects and little-known digital assets!