Investor Profits from Meme Coins

Recent on-chain data has uncovered a notable success story in the world of meme coins. An investor garnered substantial profits from a meme coin based on Solana (SOL), which experienced a remarkable 51-fold surge since the start of the year.

WIF Coin and Remarkable Gains

According to insights from Lookonchain, an investor entered the meme coin arena by acquiring dogwifhat (WIF) back in December 2023. Through strategic selling during the coin's ascent, they achieved an astounding gain of 118,967%.

Each time the value of WIF surged, this savvy investor capitalized on the opportunity. Initially purchasing 6.1 million WIF for just $5,879, which is now valued at $23.7 million, they proceeded to sell 4.7 million WIF for $1.57 million. Currently, they retain 1.4 million WIF worth $5.47 million. In total, their earnings from WIF transactions amount to approximately $7 million, reflecting an impressive 1,197-fold increase!

As of the latest update, WIF's price has escalated from $0.069 on January 10 to $3.28, marking a substantial 51-fold rise.

MAGA Coin Progress

Another intriguing revelation from Lookonchain highlights an investor who acquired 119,000 MAGA (TRUMP) meme coins – paying homage to former President Donald Trump – within a fortnight. This investment has yielded significant six-figure profits, albeit unrealized as of now.

TRUMP's value recently surged to a new peak on May 29. An individual withdrew 1.16 million USDT from Binance, investing 1.15 million USDT to purchase 118,671 TRUMP at an average price of $9.69 over the past fourteen days. As of the current moment, they hold an unrealized profit of $540,000 from TRUMP transactions.

TRUMP has observed a more than 7% increase in the past day and is now trading at $15.51.

Overall Profits and Strategies

Lastly, Lookonchain disclosed the impressive total profit of $41.38 million generated by an investor through various transactions, including WIF, Jeo Boden (BODEN) – inspired by US President Joe Biden – and Solana's Bonk (BONK).

A shrewd move involved selling all 539,558 WIF on May 28 for 11,708 SOL (equivalent to $2 million) at $3.70 each. The investor amassed $24.1 million from WIF dealings, $11 million from BODEN, and $6.28 million from BONK.

This success story underscores the significant potential for profits in the meme coin landscape, showcasing the lucrative opportunities available to astute investors.