Trader profits 3,360% with 'off-the-radar' memecoin
Amid the 2024 cryptocurrency bull market, a trader made a fortune by betting on a memecoin, repeating a trend seen among cryptocurrency traders during this period. The investor in question purchased 10.7 million $GOAT tokens on October 11th, spending 603 Solana (SOL). The amount was equivalent to approximately US$86,000 at the time of purchase.
On October 17th, the investor sold part of this position, around 700 thousand $GOAT tokens, with a significant profit of around US$222 thousand. However, he failed to take advantage of memecoin's spike in value, which at one point made his portfolio of 10.7 million tokens worth around $3.75 million.
Even without having sold at the top, the appreciation of the investment so far has been significant, reaching an increase of 3,360%. The investor still holds 10 million $GOAT tokens, with an estimated value of $2.74 million as of October 17. Despite potential gains, the volatile cryptocurrency market always poses the risk that this value will drop significantly.
226% profit with $BILLY memecoin
In addition to the success with $GOAT, the same investor also made considerable profits by staking on the $BILLY coin. In June, he invested US$182,000 in the cryptocurrency and, on October 17, he sold his entire position, raising US$593,000. This movement yielded a profit of US$411 thousand, that is, a return rate of 226%.
Although these results draw attention, this trader's case is far from being the most profitable involving the $GOAT token. On October 15, another cryptocurrency-related trade stood out when an investor acquired 5.7 million $GOAT tokens by spending just 5 SOL, about $727.
When he decided to sell part of his position, he received 5,949 Solana, which is equivalent to US$931 thousand, while still maintaining a significant stake in $GOAT. This trader, known in the market as “stupidmoney.sol”, converted an initial investment of US$727 into almost US$1 million in realized profits. Stupidmoney.sol still has potential earnings of approximately $2 million.
Successful year for memecoins
The performance of these investors with tokens like $GOAT and $BILLY follows a trend seen in 2024. This year, memecoins are generating substantial profits for some traders. In September, for example, the Moo Deng token – inspired by a hippopotamus from Khao Kheow Zoo, in Thailand – gained great notoriety.
Likewise, cryptocurrencies linked to viral memes, such as “Hawk Tuah”, and even bets related to the United States elections, such as the Jeo Boden token, registered highs.
However, the market also recorded major losses in 2024. In June, an investor lost US$2 million when trading the Pepe coin (PEPE), remembering that although memecoins can generate quick profits, they are also extremely volatile and risky .
Opportunities for October
For the month of October, two new memecoins attract investors' attention during their pre-sales: Pepe Unchained and Flockerz. Both have generated expectations in the crypto community and are seen as good opportunities for those looking for diversification and high-risk bets with potential for significant appreciation.
Pepe Unchained has already raised almost US$20.5 million in its pre-sale. Each PEPU token costs $0.0106. However, this price will rise in less than a day. Therefore, the best opportunity to guarantee the purchase of a memecoin with a low price and high potential is now.
Pepe Unchained's main differentiator is its layer 2 solution that enables faster and lower-cost transactions. $PEPU is a utility token, native to the platform, that provides passive income to investors. Due to the appreciation of the token and the yields from liquidity pools, investors can earn profits from this memecoin. The project will distribute the expected gains for $PEPU over two years, with a predicted return of 121% per year.
Meanwhile, Flockerz raised just over $809,000 in pre-sales. The $FLOCK token, which costs $0.005793, will also rise in price in a few hours.
Flockerz (FLOCK) is a new token based on the Solana blockchain. With its proposal to offer innovative solutions including decentralization, staking and rewards to users, FLOCK is already positioning itself as one of the promises for the month of October.
The project belongs to the “Vote-To-Earn” genre, that is, “Vote to Win”. In this case, the community has the power to vote and can control the fate of the project, receiving rewards for their votes. It is also possible to stake tokens during the pre-sale.