Solana

Peanut the Squirrel

FRED

Goatseus Maximus

<p class="is-style-lead">Recent trading activities on the Solana blockchain have brought massive gains to some traders who invested in small-cap meme coins.&nbsp;</p> 
<p>These impressive trades come on the back of the ongoing market-wide rally, which has spilled to the <a href="https://crypto.news/meme-coins-explode-as-trump-wins-bitcoin-election/" target="_blank">meme coin market</a>. As a result, some low and high-net-worth individuals have leveraged the opportunity to rake in millions in profits.&nbsp;</p> 
<p>It’s important to note that these meme coins are highly volatile and investing in them is very risky. Always do your own research before accumulating crypto tokens, especially meme coins.</p> 
<h2 class="wp-block-heading" id="trader-turns-2-8m-into-36-7m-with-pnut-fred">Trader turns $2.8m into $36.7m with PNUT, FRED</h2> 
<p>Notably, a trader with a newly created <a href="https://solscan.io/account/4JU1YDGTGzNvB4fEZ3DYALhp5dcBPpavrp76HdzHttQx#defiactivities" target="_blank" rel="nofollow">wallet</a> invested $2.8 million in two meme coins, Peanut the Squirrel (<a href="https://crypto.news/price/peanut-the-squirrel/" target="_blank">PNUT</a>) and First Convicted RACCOON (FRED), on Nov. 6.&nbsp;</p> 
<p>The purchases included $2.14 million for 17.35 million PNUT at $0.12 and $657,000 for 68.97 million FRED at $0.0095.&nbsp;</p> 
<p>Just 12 days later, the value of these investments soared. The PNUT holdings are now worth $28.62 million, while FRED stands at $10.23 million. This resulted in unrealized gains of $26.48 million and $9.57 million, respectively. The trader has now taken to copping other tokens, including FREN, EARLY and ATLAS.</p> 
<p> You might also like: <a rel="" href="https://crypto.news/metaplanet-to-buy-more-bitcoin-with-11-3m-bond-issuance/"> Metaplanet to buy more Bitcoin with $11.3m bond issuance </a> </p> 
<h2 class="wp-block-heading" id="pnut-s-largest-holder-earns-56m">PNUT’s largest holder earns $56m</h2> 
<p>Another <a href="https://solscan.io/account/js5Lja7zP5RCcTTpdNPB2SwRcUemBYJK8bZio4chzyw" target="_blank" rel="nofollow">investor</a> began trading meme coins on Oct. 16, starting with Goatseus Maximus (<a href="https://crypto.news/price/goat/" target="_blank">GOAT</a>). Despite initial missteps, such as selling GOAT at lower prices and losing $1.55 million on FLAVIA due to FOMO, they eventually got it right with PNUT.&nbsp;</p> 
<p>Between Nov. 3 and 10, they invested $2.8 million in PNUT. Following Binance’s <a href="https://crypto.news/new-binance-listings-god-candle-led-by-act-and-pnut/" target="_blank">listing</a> of PNUT, they took some profit, as their holdings dropped to 26.72 million tokens. However, these leftover tokens are now worth $56.64 million, with the trader being the largest holder of PNUT.</p> 
<h2 class="wp-block-heading" id="investor-makes-12m-with-ai16z">Investor makes $12m with AI16Z</h2> 
<p>One <a href="https://solscan.io/account/CyaD4ix1NTpdfQZGRUd9VKatT4HMqZXWERMemzzpMbWU" target="_blank" rel="nofollow">investor</a> took a bold approach, spending $33,000 to buy 30.6 million ai16z (AI16Z) late last month. The gamble eventually paid off, as the investment grew to $12.2 million, representing a staggering 371 times return.&nbsp;&nbsp;</p> 
<h2 class="wp-block-heading" id="trader-leverages-uro-and-rif-for-1-62m-profit">Trader leverages URO and RIF for $1.62m profit</h2> 
<p>Meanwhile, a <a href="https://solscan.io/account/2cyYy2zPyThCJAVcD4JhqnTWnsTVSVJe55Gw3NrPKBf8" target="_blank" rel="nofollow">trader</a> made $1.62 million in profit across two <a href="https://crypto.news/decentralized-science-is-modernizing-outdated-systems-opinion/" target="_blank">decentralized science</a> meme coins. First, he transformed an early $768 investment in 16.44 million Urolithin A (URO) into $572,000.&nbsp;</p> 
<p>They also bought Rifampicin (RIF) for $300 and, after selling a portion at a $957,000 valuation, achieved a total wallet value of $1.62 million. These moves brought a combined return of over 1,400 times in just 20 days.&nbsp;&nbsp;</p> 
<h2 class="wp-block-heading" id="uro-and-rif-yield-5-4m-in-five-days">URO and RIF yield $5.4m in five days&nbsp;&nbsp;</h2> 
<p>Notably, another <a href="https://solscan.io/account/AcUm7PunTqCYnLKD5ZbXaA4VtrWd8jccwPFCY3yMvLRa#defiactivities" target="_blank" rel="nofollow">investor</a> committed $17,200 into RIF and URO, on Nov. 13. Both investments have yielded rapid returns. The $8,600 in RIF has turned into $3.6 million while the same amount in URO has grown to $1.81 million in unrealized profits.</p> 
<p> Read more: <a rel="" href="https://crypto.news/centralized-exchanges-face-a-hard-blow-amid-cooling-liquidations/"> Centralized exchanges face a hard blow amid cooling liquidations </a> </p>

How these traders made millions off small-cap Solana meme coins

Table of Contents

crypto.news

Other articles published on Nov 18, 2024

Polter Finance Hit by $7M Hack, Exposing DeFi’s Growing Security Threats

Bitcoin Hits Record High as BlackRock's IBIT Sets New Trading Volume Milestone

The Incredible Numbers Behind The Rise Of Bitcoin ETFs

Cardano (ADA) to $2.48? Hoskinson, Trump Boost Price 20%

Why is Hedera (HBAR) Price up?

An In-Depth Look at Qubetics, Toncoin, and Polygon To Invest In November 2024

Join our free newsletter for daily crypto updates!