Memecoins are known for their sudden rises and falls, with some investors making millions of dollars during these surges.
Recently, there have been two examples of this. According to a post by the cryptocurrency platform Lookonchain, a lucky investor turned $575 into $1.7 million in a memecoin.
Accordingly, this investor made headlines in the market by multiplying his fortune thanks to Asteroid (ASTEROID), one of the most popular memecoins of recent days.
According to Lookonchain’s report, this investor acquired 2.79 billion ASTEROID tokens and then sold them for 503 Ethereum (worth $1.17 million ETH), making a profit of $1.17 million.
Thus, in just 5 days, this investor turned $575 into $1.17 million. This represents a return of over 2,000 times the initial investment.
This lucky investor didn’t even sell when the total value of their ASTEROID tokens exceeded $1 million. Waiting two more days for the rise to continue, the patient investor seems to have managed to sell at the peak.
Besides this investor, another investor made a huge profit from memecoins. This investor’s success came from forgetfulness. According to Lookonchain’s report, an investor forgot about the memecoin called FLORK, which they bought in 2023. During this time, the FLORK memecoin experienced a significant increase in value.
According to the data, this investor purchased a total of 44.03 billion FLORK approximately three years ago, spending 1.9 Ethereum. This investor paid approximately $3,941 for these FLORK at the time and has not made any further transactions since. With the subsequent rise in value, the FLORK is now worth approximately $352,000.
However, Lookonchain notes that this address has been inactive for 976 days, with no transactions recorded. This raises the possibility that the investor may have forgotten about their FLORK holdings and profits.
*This is not investment advice.
