Trader invests US$400 in memecoin and earns US$2 million
Amid market consolidation, traders continue to accumulate fortunes while investing just a few dollars – thanks to memecoins. In the most recent case, a trader invested $368 in a memecoin and made $2 million in three days, recording one of the fastest gains in this sector.
According to data from Lookonchain, the memecoin in question is HIPPO, which has a hippo as its theme. Its inspiration is a real animal that was an internet sensation and ended up inspiring the creation of memecoin.
Another cryptocurrency investor recently made $12.45 million in a similar token called Moo Deng, increasing demand for memecoins. These possibilities for quick profits are the biggest attraction of memecoins for traders, even taking into account the high risks of these operations.
From US$400 to US$2 million in just 3 days
The cryptocurrency market puts challenging conditions in front of cryptocurrency traders daily, where keeping a profit in itself is a big deal, and making millions is another. Most traders fall into the first group, but a lucky few make it to the other shelf.
This was the case with this cryptocurrency trader who made US$2 million in three days. He identified the trend and targeted HIPPO, a memecoin launched later this week. In this cryptocurrency trading bet, the trader purchased 253.5 million HIPPO after spending the equivalent of $368 in SUI tokens.
The operation took place on September 30th and lasted just over three days. On Wednesday (02), the trader sold 119.6 million HIPPO for US$ 175 thousand SUI, profiting US$ 325 thousand. He still has 133.9 million HIPPO, which is worth about $1.7 million today.
What is the HIPPO memecoin?
HIPPO is another memecoin based on internet sensation Baby Hippopotamus, a baby hippopotamus that resides at the Khao Kheow Open Zoo in Thailand. The puppy was named Moo Deng, a name that generated a memecoin that became a sensation this week.
HIPPO entered the market a few days ago, but its launch was delayed due to the departure of its developer, which did not affect the project. Shortly after launch, HIPPO reached a market cap of US$118.01 million and a trading volume of US$5.27 million.
In the last 24 hours alone, the price of memecoin has soared 37% and more than 7,000 people already own the token, including the millionaire trader. If the trend continues, HIPPO could become one of the best memecoins in terms of appreciation in the medium term.