One trader earned a staggering $2.19 million with $454. This particular example is a 4,827x return on investment in just two weeks. Avalanche It centers around the COQ token, which is a meme token.
This journey took the investor 4.86 trillion dollars through seven different addresses. COQ It started with him using 17.26 AVAX (about $454) to buy.
As the value of the meme token rose, they later disposed of 4.61 trillion COQ in exchange for 32,251 AVAX (worth $1.26 million) and an additional $259 thousand in USDC. With 250 billion COQ remaining (worth approximately 700 thousand dollars), the total realized profit is approximately 2.19 million is dollar.
A trader turned $454 into $2.19M in 2 weeks by trading $COQa gain of 4827x!
NEWS CONTINUES BELOWThis trader spent 17.26 $AVAX($454) to buy 4.86T $COQ through 7 addresses, then sold 4.61T $COQ for 32,251 $AVAX($1.26M) and 259K $USDC.
Currently holding 250B $COQ($700K), the profit is ~$2.19M. pic.twitter.com/arsaX6Uey8
NEWS CONTINUES BELOW— Lookonchain (@lookonchain) December 19, 2023
However, this surprising success story is met with skepticism and brings to mind the following question. Did this trader have inside information? Or was this just an extreme case of luck? The almost inconspicuous initial purchase of just $450 can easily be dismissed as a speculative gamble that has paid off tremendously against all odds.
However, such windfalls meme coin It is important to contextualize it within the broader landscape of trade. More than 90% of investors interested in meme tokens lost their funds. The volatile nature of meme coins, often driven by community sentiment rather than fundamental value, makes profiting from them akin to gambling.
The narrative of this Avalanche meme coin serves as a cautionary tale for those tempted by quick riches in the crypto space.