Recent data from on-chain sources has highlighted remarkable returns obtained by an investor in meme coins. The focus was on a Solana-based meme coin that surged by 51 times since the beginning of the year, attracting significant attention.

Performance of WIF Coin

As per reports from Lookonchain, a substantial investment was initiated in the dogwifhat (WIF) meme coin in December 2023. The investor leveraged the coin's upward trajectory, achieving a staggering gain of 118,967%. The investor strategically divested portions of their holdings as the value of WIF surged. Initially purchasing 6.1 million WIF for $5,879, the current value of this holding has soared to $23.7 million. Despite selling 4.7 million WIF for $1.57 million, retaining 1.4 million WIF valued at $5.47 million led to a profit of about $7 million, marking an impressive 1,197-fold increase.

Status of MAGA Coin

Another case highlighted by Lookonchain displayed an investor's substantial profits from the MAGA (TRUMP) meme coin, named in honor of former President Donald Trump. Acquiring 119,000 MAGA coins within two weeks resulted in substantial unrealized gains for this investor. The TRUMP coin, experiencing recent surges, attracted notable investments, including a purchase of 118,671 TRUMP coins for 1.15 million USDT, leading to an unrealized profit of $540,000 as the coin currently trades at $15.51.

Key Insights for Investors

• Strategic timing and market analysis are critical in meme coin investments.
• Selling strategically during price peaks can optimize returns.
• Diversification across various meme coins can mitigate risks and enhance opportunities.
• Monitoring market trends and on-chain data proves valuable for investment decisions.

Lookonchain also mentioned an overall profit of $41.38 million from diverse meme coin transactions involving WIF, Jeo Boden (BODEN), and Solana's Bonk (BONK). Noteworthy sales of 539,558 WIF for 11,708 SOL ($2 million) and other transactions yielded significant profits: $24.1 million from WIF, $11 million from BODEN, and $6.28 million from BONK.