The crypto world witnessed a remarkable feat recently, as an investor transformed a modest $242 investment into a staggering $250,000 in less than 24 hours.
This impressive return on investment, achieved through skillful maneuvering in the newly launched Solana-based meme coin MELON, shows the power of the crypto market and why meme coins should not be overlooked.
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This remarkable achievement was shared by Lookonchain (@lookonchain), a blockchain analytics platform on X. Lookonchain traced the investment back to its origin, when the investor acquired 38.5 million MELON tokens.
The investor traded in 3 SOL for these tokens, planting the seeds for what would become a harvest worth hundreds of thousands of dollars within a few hours.
In less than 1 day, this trader turned $242 into $250K on #Solana, a gain of 1000x!😱
The trader spent 3 $SOL($242) to buy 38.5M $MELON and sold 22.5M $MELON for 1,562 $SOL($143K), and 16M $MELON($107K) left in 2 new wallets.
Making $250K in less than 1 day!💰
Address:… pic.twitter.com/PM3AZrGPp3— Lookonchain (@lookonchain) December 21, 2023
A Remarkable Series of Events
Unlike a trader who missed a $70 million opportunity with Shiba Inu (SHIB), this investor walked away with an insane profit. The investor made the purchases in two transactions.
He purchased 21,538,158 MELON with 1.5 SOL in the first transaction and 16,951,948 additional MELON with another 1.5 SOL in the second. With a well-stocked portfolio of MELON, the investor patiently awaited the opportune moment to reap the rewards.
As the market began to move in MELON’s favor, the investor began a series of calculated transactions. The first phase, commencing at 9 AM and extending until noon, witnessed the sale of 22.5 million MELON tokens, bringing 1,562 SOL ($143,000). Despite the massive profit he had just acquired, the investor was not done.
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He began a second round at 9 PM, selling an additional 16 million MELON, earning $107,000. After these transactions, the investor locked the final profit in two secure wallets, holding a profit of $107,000, and 16 million MELON. If MELON surges again, this investor could become a millionaire.
This investor’s identity is unknown, and many in the community believe he is a developer of the MELON tokens. However, if these transactions were made by an investor without insider knowledge, the crypto community would have much to learn from his methods.
This story is reminiscent of another investor who recently turned 1.5 SOL to $1.55 million in 16 days. The trader also bought into a new meme coin. If meme coins can keep up these amazing performances, they could be the best trading option for the coming bull run.
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