An individual who trades Ether (ETH) has experienced a significant increase in wealth after investing $8,300 in a frog-themed memecoin one month ago. The price of the memecoin, known as Apu Apustaja (APU), soared on April 11, resulting in a market capitalization of nearly $200 million. Lookonchain, a blockchain analytics firm, identified a trader who had invested in APU a month prior to its price surge.
The trader conducted four transactions on March 11, acquiring approximately eight billion APU tokens. They later purchased an additional 300 million tokens on March 13 and March 24. In total, the trader spent 2.38 ETH, equivalent to around $8,300, on the memecoin. When the token’s price reached a high of $0.0007907 on April 11, the tokens were valued at approximately $6.5 million.
On April 12, the memecoin trader transferred the funds to a different crypto wallet through six transactions. This action could indicate the trader’s desire to move the tokens to another wallet or sell them through a peer-to-peer transaction.
Members of the community also shared their opinions on the situation. One user commended the tokenholder for “still holding,” while another speculated that the crypto wallet belonged to a developer.
In another instance, a trader purchased around 170 million Book of Meme (BOME) tokens on March 14 and sold them for $131,000 before the price surged on March 15. Based on current market prices, the trader missed out on a potential gain of $2 million.
However, another memecoin trader profited from the frenzy by turning $13,000 into $2 million in just one hour. On April 3, this trader discovered a memecoin called Donotfomoew (MOEW) as it made its debut on decentralized exchanges. They spent 4 ETH ($13,000) to purchase nearly 500 million MOEW tokens, which quickly appreciated in value.
Overall, while some traders exercise patience and hold onto their investments, others seize the opportunity to cash in on their gains, potentially missing out on significant profits.