Trader sees investment grow 500 times with memecoin in just one week

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Trader sees investment grow 500 times with memecoin in just one week
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An anonymous trader has made a 500x return on his investment in just one week. He achieved this feat by betting on the cryptocurrency Moo Deng (MOODENG), which has gained popularity on social media.

On September 10, the trader invested $800 in MOODENG/SOL tokens on the Raydium platform, an automated market maker (AMM) based on the Solana blockchain. Seven days later, the value of his position had multiplied to $400,000, according to data from blockchain analytics platform Arkham.

The trader initially exchanged 6 SOL, equivalent to about $800, for MOODENG tokens just as the coin was about to skyrocket. The token’s price explosion was linked to its growing virality on social media. Thanks to this hype, the memecoin’s price was able to return 500 times the amount invested.

Over a short period of time, the MOODENG cryptocurrency has risen to a price of $0.0163. This represents an increase of almost 120% in 24 hours at the time of writing.

Trader makes high profits by investing in memecoin

MOODENG is named after a baby pygmy hippopotamus at the Khao Kheow Zoo in Thailand. The animal became an internet sensation. Photos and videos of the hippo quickly caught the attention of users, spawning a wave of related memes. So the creators of the memecoin took advantage of this phenomenon, launching the token into a growing trend of meme-based coins.

Solana, the platform where MOODENG is located, has stood out as one of the main choices for this type of project, especially after the success of tokens like Bonk (BONK).

The MOODENG trader’s case is not isolated. After all, another investor managed to turn US$16,550 into US$1.8 million in just eight weeks with the cryptocurrency First Neiro (NEIRO). NEIRO is a tribute to Neiro, a Shiba Inu dog, adopted by the owner of Kabosu, the Dogecoin mascot, who passed away in 2024.

However, not all bets on viral coins are successful. One example of this was a trader who saw a $1 million investment in a token called MBAPPE fall dramatically to $9,200 in just one hour. The cryptocurrency was initially associated with French footballer Kylian Mbappé. This attracted momentary interest, but the market correction was quick.

Trader sees investment grow 500 times with memecoin in just one week

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Trader sees investment grow 500 times with memecoin in just one week

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Trader sees investment grow 500 times with memecoin in just one week

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Trader sees investment grow 500 times with memecoin in just one week

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