Cryptocurrency trader turned $ 800 into $ 1.3 million in two weeks

Note: not investment advice!

An anonymous cryptocurrency trader has earned more than $ 1.3 million in two weeks by investing just $ 800 in the Moo Deng (MOODENG) meme token. The investor purchased the coin on September 10, when it appeared on the Raydium decentralized exchange after its launch on the Pump. fun platform in the Solana network. This was reported by Arkham analysts.

Currently, this user is the largest owner of MOODENG, and its unrealized profit has reached almost $ 1.3 million. It is worth noting that at the time of writing, the meme token is trading at around $ 0.05, and the asset’s market capitalization is 47.4 million.

Some users have suggested the possibility of insider trading. Although there is no official confirmation, the community is actively discussing possible ways to monitor such transactions.

This is not the first case of significant profits on meme tokens. For example, a trader previously earned $ 5.6 million on the DADDY token promoted by former kickboxer Andrew Tate. Other investors also made significant profits during the launch of the WaterCoin meme token on Jupiter and Raydium exchanges, where one of the traders earned $ 2.9 million in 20 minutes of trading.