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How One Trader Turned $895 Into $321,000 Overnight Using Meme Coins

11.08.2024
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A trader just turned an $895 investment into $321,000 overnight by investing in meme coins.

As per a tweet by on-chain sleuth Kakashi, the trader invested $895 into $BTW on pump.fun, a popular meme coin trading protocol on Solana.

This guy bought bout $895 $BTW at pumpfun, sold over $51,000 and has over $265,000 left in token.
🤖 https://t.co/RIViuiFH8D pic.twitter.com/26nkowq3Uz

— Kakashi (@kkashi_yt) August 8, 2024

They then proceeded to sell tokens worth $51,000, with over $265,000 left in their wallet.

That means they are sat on realized and unrealized combined gains of over $320,000.

Readers can check out the trader’s Solana wallet here: 4gVDRSy4UCvk85XsC2BMTbc66bM1BKeWPnMaK2scqDQ2.

The above trade is an example of how traders can turn a small initial investment into a fortune in meme coins.

In the above example, the trader bagged a 358x gain.

Risks of Investing in Meme Coins

The prospect of going from rags to riches in the meme coin markets is a major lure for traders.

But trading coins like $BTW is highly risky. Most newly launched cryptos are either scams or pump-and-dumps.

It’s far more common for an investor to lose their entire initial investment than to see big gains.

An investment strategy with a potentially better risk-reward is to invest in meme coin presales.

FOMO is a big risk that traders face when trading new coins on a DEX like Raydium.

When traders see the price shooting up, they often dive in and buy the peak without doing enough research.

By contrast, presales usually last a few weeks.

That means potential investors have plenty of time to research a project before they get involved, reducing the risk of making a FOMO-related mistake.

And avoiding FOMO isn’t the only benefit of presales.

Presales also serve to generate a lot of hype that can result in an explosive price move once the token launches.

Better Option – Pepe Unchained (PEPU)

Analysts at Cryptonews.com keep a close eye on the presale market.

One project they think has a lot of potential is a new crypto called Pepe Unchained (PEPU).

Pepe Unchained is a new Ethereum layer-2 protocol that aims to become the go-to blockchain for meme coin trading.

Pepe is gearing up to surf his own Layer 2 blockchain – the first of its kind! 🐸🌊 pic.twitter.com/T41V8wNDBh

— Pepe Unchained (@pepe_unchained) August 8, 2024

Pepe Unchained’s token presale launched a few weeks ago, raising close to $8 million so far.

See in the below video why popular presale analyst Jacob Crypto Bury thinks Pepe Unchained has 10x potential.

The post How One Trader Turned $895 Into $321,000 Overnight Using Meme Coins appeared first on Cryptonews.

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Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

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