Recently, Solana (SOL)-based meme coin projects have been promising returns that have excited and surprised investors. After Dogwifhat (WIF) and other meme coins, now TOBI has come to the fore by promising an incredible return. According to Lookonchain’s news, an investor earned 200 thousand dollars in just 5 minutes by investing in TOBI! This incident reveals how risky and at the same time how profitable meme coins can be.
Lucky meme coin investor
On May 16, 2024, an unknown investor purchased 28.58 million TOBI for 9 SOL worth $1,470. After this investment, the TOBI price started to rise rapidly and the investor made a profit of 202 thousand dollars by selling all his TOBIs for 1.229 SOL in just 5 minutes. This incredible investment represented a 137x return. The fact that the investor made such a high profit in such a short time shows how rapidly meme coins can be subject to price fluctuations. Lookonchain’s tweet summarizes this event as follows:
Unbelievable! This trader turned 9 SOL ($1,470) into 1,238 SOL ($202,000) in less than 5 minutes, which is a 137x gain! He spent 9 SOL to buy 28.58 million TOBI, then the price of TOBI rose rapidly. He immediately sold the entire TOBI for 1,238 SOL! He earned 1,229 SOL ($201 thousand) in less than 5 minutes.
Wintermute’s inclusion in meme coins
According to another tweet by Lookonchain, the address “4pV17t” is estimated to belong to the Wintermute trading firm. This address invested $2,000 worth of SOL in a meme coin called MANEKI on May 16. MANEKI is a meme coin that has gained popularity in the last week. The same address had invested $1,300 worth of SOL in a meme coin called MICHI 8 days ago. These investments by Wintermute show that the company believes in the potential of meme coins and is active in this field.
Meme coins are cryptocurrencies fueled by speculation, often based on a popular internet phenomenon or humor. These coins generally have very little value and are prone to sudden price fluctuations. Therefore, meme coin investments are quite risky. However, meme coins also have high return potential. It is possible to make huge profits in a short time, as in the example of the TOBI investor mentioned above.
Solana-based meme coins have become an area that promises high returns for investors. However, it is important to remember that these coins are quite risky and their prices can fluctuate suddenly. Before investing, it is necessary to do detailed research and take risks.
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