On the Solana platform on March 10th of this year, a user decided to invest 60 SOL, equivalent to $8,673, in purchasing 24.8 million HAMMY meme tokens. According to Lookonchain, these investments increased to $1.26 million within two months.

The investor bought the meme tokens at a price of $0.00035 each. Approximately a month later, their price rose to $0.007, which allowed the value of his deposit to increase twentyfold. Experts note that despite the sharp increase in value, the trader did not choose to secure profits at that time.

By May 4th, the trader had sold 12.8 million HAMMY for 2711 SOL, approximately equal to $401,000. He continues to hold the remaining 12 million HAMMY, currently valued at approximately $858,000.

The initial investments in the meme token increased 144 times, bringing a total profit of over $1.25 million, emphasize the analysts at Lookonchain. They also reported in April about another trader who managed to earn over $26 million trading meme tokens within a few months. Another investor earned $1.5 million trading just seven coins.

Kain Warwick, the founder of Synthetix, recently stated that meme tokens are a useful tool for DEX, attracting non-traditional DeFi traders to platforms.