Memecoins
Recent Memecoin Surge Produces Significant Profits for Traders » The Merkle News
The recent increase memecoin has continued to generate substantial profits for traders. In particular, one trader earned a whopping $1.17 million from investments in $GME and $AMC.
On May 13, following @TheRoaringKitty’s return to .
As of now, the trader’s holdings in $GME and $AMC have skyrocketed in value to $SOL4,536 (a 7x increase) and $SOL4,590 (a 14x increase), respectively.
This trader earns $1.17 million from #memecoin $GME AND $AMC!
On May 13th the trader spent 645 $SOL to purchase 30.8 million $GME and 327 $SOL to purchase 27.6 million $AMC between 8 and 11 hours later @TheRoaringKitty posted his comeback on X.
Now, that of the trader $GME AND $AMC the holdings are worth 4,536 $SOL… pic.twitter.com/aoOhtEuqwP
— Spot on the chain (@spotonchain) May 15, 2024
Another experienced trader capitalized on the memecoin frenzy, making $576,000 on $GME in less than two days. This trader, perhaps inspired by @TheRoaringKitty, spotted the opportunity just 8 minutes after the influential post and invested $200 SOL ($29,000) to acquire $43.86 million of GME.
After the price surge, the trader sold $6.12 million worth of GME for $SOL400 ($58,000), doubling his initial investment with $SOL200 as realized profit.
This smart trader earned $576,000 $GME in less than 2 days!
This trader, perhaps a fan of @TheRoaringKittyI spotted the trading opportunity 8 minutes later @TheRoaringKitty published and spent 200 $SOL($29,000) to buy 43.86 million $GME.
After the price increased, it sold 6.12 $GME for 400… pic.twitter.com/WyDSbErb41
—Lookonchain (@lookonchain) May 14, 2024
More whale traders move into Memecoins after the recent retracement
When the price of $GME fell, the trader reinvested the $200 profit to purchase $4.14 million of $GME at the lower price. A few hours ago they sold $11.88 million of $GME for $1,358 SOL ($198,000), holding onto $30 million of $GME worth $378,000.
Despite a 20% drop in the price of $GME over the past 24 hours, two newly created portfolios took advantage of the drop. These wallets withdrew $SOL3,045 ($438,000) from Kucoin and purchased $22.79 million of GME at an average price of $0.019, demonstrating continued interest and strategic trading in the memecoin market.
2 newly created wallets withdrew 3,045 $SOL($438,000) from #Kucoin and I bought 22.79 million $GME at an average price of $0.019.https://t.co/lreWpZPdznhttps://t.co/KKi6cTY5BY pic.twitter.com/pIEvVxE8wi
—Lookonchain (@lookonchain) May 15, 2024
The recent activity of memecoins like $GME and $AMC highlights the dynamic nature of the cryptocurrency market, where timely investments and quick responses to market trends can produce significant returns.
Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.
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