Crypto Trader Made $125K With $29 in 3 Mins As Token Value Boomed

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As a seasoned analyst with years of experience in the volatile world of crypto trading, I have witnessed firsthand the rollercoaster ride that this digital frontier offers. The recent events surrounding the Mbappe token are a perfect example of the extreme highs and lows that can be encountered in this space.

In a recent turn of events, the concept of the wheel of fortune has materialized in the crypto world, showcasing both substantial victories and painful losses. A fortunate trader walked away with an astounding $125,000 from an initial investment of just $29, leaving the world in awe. Simultaneously, another investor suffered a devastating loss of $1 million due to a rug pull scam. The new meme coin, Mbappe, serves as a stark reminder of the unpredictable nature of trading.

Crypto Trader Won 4,330X Jackpot With Mbappe Token

A well-known analytics platform, Lookonchain, disclosed an instance where a trader amassed an incredible 4,330 times return on investment (ROI) by putting a modest sum into a recently introduced token, known as the Mbappe token. Remarkably, this trader made the investment at just the right moment when the token’s value skyrocketed immediately. What’s crucial is that he wisely offloaded his investment when the value dipped shortly thereafter.

According to Lookonchain data, a crypto trader made an extraordinary profit by investing only $29 worth of Solana (SOL) and selling it within three minutes for approximately $125,160, which is a staggering 4,330 times return on investment. But that’s not the end of the story, as this trader also invested in 251 meme-based cryptocurrencies, allocating around 0.1, 0.2, or 0.3 SOL for each, and managed to achieve a successful trading rate of 35.46%.

This guy who trades #MEMEcoins like buying lottery tickets finally hit the 4,330x jackpot!
He spent 0.2 $SOL($29) to buy $MBAPPE and sold it 3 minutes later for 866.13 $SOL($125.16K), a 4,330x return!
Over the past month, he traded 251 MEMEcoins, investing 0.1 $SOL, 0.2 $SOL,…
— Lookonchain (@lookonchain) August 29, 2024

Over the past month, he’s accumulated a total profit of $126,700 from his meme coin investments. This is quite remarkable. It shows that he’s been strategic in diversifying his investments to minimize risk while still capitalizing on major opportunities.

Another Trader Lost $1 Million With Mbappe

According to a different report, Lookonchain disclosed a crypto investor suffering significant losses after trading in the same digital token. Specifically, this trader purchased approximately 7,156 Solana tokens for about $1.03 million. Unfortunately, the value of the token plummeted within an hour, reducing the worth of their holding to just over $9,200.

An individual recently established a digital wallet and invested approximately 7,156 Solana dollars ($1.03 million) in a meme-based cryptocurrency called $MBAPPE during a single transaction. However, the current value of this investment has significantly decreased to just over $9,200.

This person lost more than $1M in just 1 hour!

— Lookonchain (@lookonchain) August 29, 2024

As an analyst, I’ve noticed a rollercoaster ride in the value of the Mbappe token, primarily due to the hacking incident on Kylian Mbappe’s social media account. Regrettably, this isn’t uncharted territory; many celebrities have unfortunately fallen victim to such digital intrusions, often used to publicize cryptocurrencies. Previously, the DOJA Cat’s account also experienced a similar hacking event.

In the Mbappe situation, an individual unlawfully accessed Mbappe’s social media account with the intention of advertising a newly introduced token through pump.fun. This hacker then publicized the token on Kylian’s Instagram account, boasting over 14.4 million followers. Consequently, the token’s value skyrocketed, causing the market capitalization to surge into tens of millions.

After this, the hacker quickly disposed of all the tokens, causing a sudden collapse, dramatically decreasing the token’s worth, and leaving all the investors with substantial losses.

Final Thoughts

2024 is seeing a surge in popularity for meme-based cryptocurrencies, particularly Solana’s meme coins, as they attract attention for significant returns. Each day sees new tokens entering the market, and many investors find success by seizing opportunities at the right moment. One such crypto trader amassed $125k from an initial investment of just $29 in a mere 3 minutes, demonstrating exceptional skill. Conversely, another cryptocurrency investor nearly lost $1 Million with the same token due to the creator’s fraudulent withdrawal of funds (rug pull scheme).

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2024-08-29 11:32