Crypto can be incredibly profitable, and one trader’s recent experience with a Solana-based meme coin called GME proves it. He turned an initial investment of 12,110 SOL into a peak profit of over $2 million!
This story shows the huge potential for gains (and misses) in the fast-paced world of crypto. Read on to find out how he did it.
Trader’s Million-Dollar Crypto Move: A GME Token Story
According to LookonChain, a savvy trader purchased 135 million GME tokens using 12,110 SOL, roughly $2 million, at a price of $0.0148 per token. This strategic move made the investor the fourth-largest holder of GME tokens.
Source: X
The trader then sold 118 million GME tokens for $2.33 million at $0.01975 per token. Despite this sale, the trader still holds 16.94 million GME tokens, currently valued at $288,000. Overall, these transactions resulted in a net profit of $618,000.
The trade took place on June 4, with the investor’s wallet funded by Coinbase and linked to two domains. This significant purchase and profit highlight the high rewards and risks of cryptocurrency investments.
Trader’s Missed Opportunity: A Look at GME’s Volatile Journey
At GME’s peak price, the trader’s potential profit could have been over $2 million, showcasing the volatile nature of the cryptocurrency market. These fluctuations present opportunities for both large gains and losses.
Should investors prioritize established projects or take a chance on memecoins? We want to hear from you!
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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