Wild Success in the Cryptocurrency Meme Market: Trader increased his deposit 137 times in five minutes thanks to TOBI memecoin
Date: 2024-05-16 Author: Gabriel Deangelo Categories: BUSINESS
A sharp increase
The trader, whose identity remains unknown, achieved impressive financial success, increasing his deposit by 137 times in just five minutes. He managed to convert $1,470 into a staggering $202,000 by trading TOBI memcoin on the Solana network.
Trading on Raydium
According to data from the analytical company Lookonchain, the trader conducted trades on the Raydium exchange, where he purchased 28.58 million TOBI tokens, spending only 9 SOL. However, within five minutes the price of memcoin rose sharply, which allowed the trader to instantly sell his assets for 1238 SOL.
Second Success Story
This is the second time in a week that a trader has demonstrated phenomenal success in the memcryptocurrency market. Previously, another trader increased his deposit an astonishing 15,718 times by trading PEPE memcoin, turning about $3,000 into a crazy $46 million in one year.
Support for Memcoin Development
At the end of April 2024, Raj Gokal, co-founder of Solana, expressed support for projects related to the issuance of memcoins, refuting Vitalik Buterin's statements that such assets scare away developers.
