Memecoins are gaining popularity in 2024, especially those based on Solana, and are attracting significant investor attention.
One notable case involves an investor who achieved remarkable success with the Solana memecoin Goatseus Maximus (GOAT).
According to Lookonchain, this individual turned an investment of $727 into an astonishing $2.42 million within just four days, resulting in a staggering gain of 3,329%.
This guy turned $727 into $2.42M in just 4 days, a 3,329x return!
Four days ago, he used 5 SOL ($727) to purchase 15.15 million GOAT. In the past 8 hours, he sold 5.7 million GOAT for 5,949 SOL ($931K), leaving him with 9.45 million GOAT ($1.49M).
https://t.co/GeXNlongIW
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— Lookonchain (@lookonchain)
October 15, 2024
The investor bought 15.15 million GOAT tokens for 5 SOL, which was equivalent to $727 at that time.
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Following a dramatic surge in the token’s price, they sold 5.7 million GOAT for 5,949 SOL, approximately $930,000, while still holding onto 9.4 million GOAT valued at $1.4 million.
If they decide to sell the remaining tokens, their total profit could reach $2.4 million.
