- Crypto Trader Won 4,330X Jackpot With Mbappe Token
- Another Trader Lost $1 Million With Mbappe
- Conclusion
The wheel of fortune has once again spun in the crypto world. One trader made thousands in gains, while another lost a million from the same meme coin, Mbappe.
Crypto Trader Won 4,330X Jackpot With Mbappe Token
Lookonchain, a popular analytics platform, reported an incident where a trader made 4,330X in profits from a small investment in a newly launched token. The trader invested in the Mbappe token at the perfect time as its value soared and sold it just before the drop.
According to Lookonchain reports, the crypto trader spent just 0.2 SOL, equivalent to $29, and sold it within three minutes for 866.13 SOL, worth $125.16K, making a 4,330X gain. Over the past month, the trader invested in 251 meme-themed cryptocurrencies, spending around 0.1, 0.2 & 0.3 SOL on each, achieving a winning rate of 35.46%.
Collectively, he has made $126.7K in profits from these meme coin investments in the past month, which is impressive. This reveals his strategy of spreading investments to minimize risk while still seizing big opportunities.
Another Trader Lost $1 Million With Mbappe
In another report, Lookonchain revealed an investor losing almost a million by trading in the same token. This crypto trader bought $1.03M (7,156 SOL) worth of tokens. However, the token crashed within an hour, causing the holding value to drop to $9.2K.
The Mbappe token had a major up and down due to French football star Kylian Mbappe’s X account being hacked. However, this is not uncommon, as many celebrities have fallen victim to such hacks promoting cryptocurrencies. Earlier, [popular singer DOJA Cat’s X account](https://coingape.com/trending/popular-singer-doja-cats-x-account-hacked-here-is-why/) was hacked for the same reason.
In the Mbappe case, the creator hacked the footballer’s account to promote the recently launched token on pump.fun. The hacker promoted the token on Kylian’s X account, which had more than 14.4 million followers. With this, the token's value surged, and the market cap reached tens of millions.
However, shortly after, the hacker sold all the token supply, crashing its value to zero and causing significant losses for all holders.
Conclusion
Meme-based cryptocurrencies are the trend of 2024, where many, especially Solana meme coins, have been in the spotlight for significant gains. Many new tokens are introduced to the market daily, and many investors succeed in seizing the opportunity at the right time. One crypto trader made $125K from just $29 in 3 minutes, showcasing impressive skills. However, at the same time, another investor lost almost $1 million with the same token due to the creator’s rug pull scheme.
Meme cryptocurrencies present both opportunities and risks for investors. In this case, one trader managed to achieve impressive profits, while another incurred substantial losses. This underscores the importance of a cautious and measured approach when investing in such volatile assets.
