Recent trading activities on the Solana blockchain have brought massive gains to some traders who invested in small-cap meme coins.
These impressive trades come on the back of the ongoing market-wide rally, which has spilled to the meme coin market. As a result, some low and high-net-worth individuals have leveraged the opportunity to rake in millions in profits.
It’s important to note that these meme coins are highly volatile and investing in them is very risky. Always do your own research before accumulating crypto tokens, especially meme coins.
Trader turns $2.8m into $36.7m with PNUT, FRED
Notably, a trader with a newly created wallet invested $2.8 million in two meme coins, Peanut the Squirrel (PNUT) and First Convicted RACCOON (FRED), on Nov. 6.
The purchases included $2.14 million for 17.35 million PNUT at $0.12 and $657,000 for 68.97 million FRED at $0.0095.
Just 12 days later, the value of these investments soared. The PNUT holdings are now worth $28.62 million, while FRED stands at $10.23 million. This resulted in unrealized gains of $26.48 million and $9.57 million, respectively. The trader has now taken to copping other tokens, including FREN, EARLY and ATLAS.
PNUT’s largest holder earns $56m
Another investor began trading meme coins on Oct. 16, starting with Goatseus Maximus (GOAT). Despite initial missteps, such as selling GOAT at lower prices and losing $1.55 million on FLAVIA due to FOMO, they eventually got it right with PNUT.
Between Nov. 3 and 10, they invested $2.8 million in PNUT. Following Binance’s listing of PNUT, they took some profit, as their holdings dropped to 26.72 million tokens. However, these leftover tokens are now worth $56.64 million, with the trader being the largest holder of PNUT.
Investor makes $12m with AI16Z
One investor took a bold approach, spending $33,000 to buy 30.6 million ai16z (AI16Z) late last month. The gamble eventually paid off, as the investment grew to $12.2 million, representing a staggering 371 times return.
Trader leverages URO and RIF for $1.62m profit
Meanwhile, a trader made $1.62 million in profit across two decentralized science meme coins. First, he transformed an early $768 investment in 16.44 million Urolithin A (URO) into $572,000.
They also bought Rifampicin (RIF) for $300 and, after selling a portion at a $957,000 valuation, achieved a total wallet value of $1.62 million. These moves brought a combined return of over 1,400 times in just 20 days.
URO and RIF yield $5.4m in five days
Notably, another investor committed $17,200 into RIF and URO, on Nov. 13. Both investments have yielded rapid returns. The $8,600 in RIF has turned into $3.6 million while the same amount in URO has grown to $1.81 million in unrealized profits.
