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In the volatile crypto world, the line between profit and regret is sometimes razor-thin. A young creator who launched its memecoin on Pump.fun, a platform built on the Solana blockchain, learned this the hard way.
According to recent data, the creator sold off all his tokens in a livestream on Wednesday, making a quick five-figure profit. The market frenzy pushed the token’s value into the millions, and its market cap soared significantly, leaving the child wondering what could have been.
A Quick Profit Turned Into an Epic Missed Opportunity
The young creato’s plan was simple: launch a memecoin on Pump.fun, ride the early hype, and cash out. But this quick exit came at a cost. In response to the early existence of the crypto community, the crypto community took control of the original coin, a process known as “CTO’ing.”
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This shift sent the token’s market value to over $100 million.
In the memecoin world, “CTO’d” means that others in the crypto space are now in charge of the token’s technical direction. The community then took things further by outing individuals they believed were connected to the creator’s family. They used these people’s identities to create and launch additional memecoins on the Pump.fun platform.
The creator’s original holdings could be worth over $2.5 million at current prices. Unfortunately, he missed millions by not holding onto some of the tokens. However, the price surge may not have occurred if the events had unfolded differently.
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Trump’s Crypto Stance Fuels Memecoin Surge
While the child’s token saw an unexpected surge, another memecoin, Just a Chill Guy (CHILLGUY), has also gained significant attention. In just a few days, CHILLGUY’s market cap shot up to over $300 million, though it has since settled around $215 million.
The recent spike in memecoins can be attributed to increased speculation. Donald Trump’s pro-crypto position post-election partly drives the bullish market trajectory.
Popular tokens like Dogwifhat and Pepe have surged, especially after gaining listings on major platforms, including the popular Coinbase exchange. The rise of meme funds, like the unaffiliated ai16z, has boosted growth in this space.
Memecoins Soar, But Retail Enthusiasm Remains Cautions
The surge in memecoins has captured attention, but retail investors, who typically drive market enthusiasm, are more cautious this time. While tokens like Dogwifhat and Pepe have gained attention, overall market activity is still lower than the massive growth in previous years.
This suggests that many retail investors, perhaps wary of past volatility, have yet to re-enter the market fully. Without widespread retail participation, the current crypto rally is driven by niche investors and fueled by memecoin hype.
