Investor Makes $620,000 in Just Four Hours Thanks to Slop Memcoin Growth
Date: 2024-10-22 Author: Henry Casey Categories: CRYPTO PAYMENTS
Memcoins are attractive to investors due to their unpredictable volatility, which opens up opportunities for quick profits. Lookonchain shared a story of how one crypto community member managed to turn his investment into a significant amount in just a few hours.
An investor holding 1.76 Solana (SOL) tokens, valued at $296 at the time of purchase, invested in a memcoin called slop. He purchased 38.17 million slop tokens, which skyrocketed in price just four hours later. After that, the investor sold 29.78 million tokens for 2,412 SOL, which amounted to about $405,000. The remainder of his wallet - 8.39 million tokens - was valued at about $215,000 at that time.
The growth of the slop rate was impressive - in a short period of time, the coin increased in value by more than 48.5 thousand percent.
Many users of the crypto community believe that such a good moment for the sale was not an accident. In their opinion, the investor could be a developer of the project and know in advance when it is better to take profits.
In addition to slop, this investor is also interested in other memecoins, such as GROK, AIDA and AYANE, as evidenced by data from the solscan platform.
This is not the only case of lightning profits on memecoins. There have been previous stories about how $140 was converted into $450,000 in a day.
Some developers even use bots with artificial intelligence to trade on the memecoin market. For example, the editorial staff of BeInCrypto previously reported on the successful work of the Truth Terminal chatbot, which became a crypto millionaire thanks to the GOAT memecoin. This story inspired many to use AI to earn money in the cryptocurrency sphere.
