A crypto trader made significant gains with a new Solana meme coin trading, sparking discussions in the market. According to reports, the trader has made $2.42 million with an investment of $727, and that too in just four days. The new meme coin, Goatseus Maximus (GOAT) has gained notable traction among crypto market enthusiasts since its launch, as evidenced by its soaring prices recently.
Crypto Trader Records 3329% Gains With This Solana Meme Coin
According to a recent report by the leading on-chain transaction tracking platform, Lookonchain, a crypto trader has made substantial gains recently. The trader started with an initial investment of 5 SOL, worth $727, to purchase 15.15 million GOAT tokens. With just four days, the value of the Solana meme coin skyrocketed, giving him to record a gain of 3329% of the initial spending.
The Solscan report showed that in just a few hours today, the trader sold 5.7 million GOAT tokens for 5,949 SOL, worth around $931,000. Besides, after the selling, he still holds 9.45 million GOAT tokens, which currently stands at $1.49 million.
Meanwhile, this massive gain in a short span of time has sparked discussions in the crypto market. In addition, it also highlights the high-risk and rewarding nature of crypto, especially with the top meme coins trading.
Having said that, many in the crypto market appear to be shifting in the meme coin space, as evidenced by the performances of the top players. Despite that, some analysts have issued warnings, given the highly volatile nature of these assets.
GOAT Price Soars 30% Amid AI Rumors
The GOAT price has noted gains of 30% today, and exchanged hands at $0.1278, while its one-day trading volume stood at $72.37 million. The crypto, with a market cap of $127.25 million, saw a 24-hour high of $0.1765 and a low of $0.09728, indicating highly volatile trading.
Meanwhile, the token has also gained notable attention after rumors circulated on social media that the Solana meme coin was launched by an AI bot. The rumors claimed that the token was launched by the Andreesen Horrowitz-backed bot āTruth Terminalā.
However, the creator of Truth Terminal, Andy Ayrey, dismissed the claims and said that the bot was used to promote the token. He clarified that the AI bot was not directly involved in launching the GOAT token.
Despite that, it appears that the interest on the meme coin remains high, as evidenced by the recent gains in it. Besides, the best meme coins on Solana have also gained notable traction lately, which has triggered a rally in their prices. However, the investors should exercise due diligence, given the historically volatile scenario of the meme coin space.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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