A Solana meme coin trader transformed a $21,000 investment into $2.68 million within just four days by trading the $CHILLGUY token.
On November 16, the trader purchased 26 million $CHILLGUY tokens for $21,000, blockchain data shows.
Over the next few days, as the token’s value surged, they sold 23.8 million tokens for $2.24 million, retaining 2.25 million tokens valued at approximately $459,000.
In just 4 days, this trader made $2.68M, a 128x return!
4 days ago, this trader spent $21K to buy 26M $CHILLGUY and then sold 23.8M $CHILLGUY for $2.24M, leaving 2.25M $CHILLGUY($459K). #CHILLGUY
Address:https://t.co/oTK7Jso81P pic.twitter.com/Pm9KJIRRxZ— Lookonchain (@lookonchain) November 20, 2024
Another Trader Turns $160 to Over $1.6M With Chillguy
Another savvy trader has managed to turn a modest $160 investment into a staggering fortune of over $2 million, thanks to the explosive rise of $CHILLGUY.
According to Solscan, this account holds a balance of 9.62 million CHILLGUY tokens, valued at over $1.6 million.
The CHILLGUY token, also known as “Just a chill guy,” is a meme-based cryptocurrency on the Solana blockchain.
It has gained attention for its significant price movements and trading volume.
For instance, recent data indicates a 24-hour trading volume of approximately $31.54 million and a price increase of 459.19% within the same period.
$160 to over $2M $Chillguy https://t.co/HleTA1LI6W pic.twitter.com/mLAMbyWA2g
— Kakashi (@kkashi_yt) November 20, 2024
Notably, there have been more examples of traders turning a small investment into a massive fortune as of late as the meme coin mania rages on.
Just recently, an anonymous trader turned a $17 investment in Pnut, a meme coin inspired by a viral squirrel, into an astonishing $3 million in Solana tokens.
The token, created through Pump.Fun, gained popularity following the story of P’Nut, a squirrel euthanized for a rabies test, which sparked widespread internet support.
By leveraging perfect timing, the trader capitalized on Pnut’s meteoric rise, swapping tokens at their peak value of $1.50 just hours after Binance announced its listing.
While the trader’s 16,470,500% profit marked one of the most successful meme coin trades in history, Pnut’s creator saw a starkly different outcome.
After spending $335 in Solana to mint 1 billion Pnut tokens, the creator cashed out early for just $620, missing out on what could have been a fortune.
Solana DApps See Record Fees and Revenue Amid Meme Coins Resurgence
As reported, Solana-based decentralized applications (DApps) have registered record fees and revenue, driven by a renewed meme coin frenzy.
Likewise, trading activity on Solana-based decentralized exchanges (DEXes) has reached record levels as meme coin enthusiasm sweeps the crypto market.
As reported, institutional investment in Solana-based blockchain applications rebounded in the third quarter of 2024, with Solana’s decentralized applications (DApps) attracting $173 million across 29 funding rounds.
This marks a 54% rise from the previous quarter, signaling renewed interest in the Solana ecosystem despite a 37% decline in the number of funding rounds, according to a recent Messari report.
Per the report, this influx of capital represents the highest investment level in Solana projects since Q2 2022.
The third quarter also saw a dramatic increase in Solana’s fee-related metrics.
Average daily fee payers reached 1.9 million, an impressive 109% increase quarter-over-quarter, while new fee payers surged 430% to 1.3 million.
However, the network’s daily transaction volume, excluding voting-related activity, dropped by 12% to 62 million transactions.
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