A trader struck gold, turning an $8,300 investment in a frog-themed memecoin into a staggering $6.5 million windfall as the token’s value soared 750-fold. This memecoin, named APU, witnessed a remarkable surge on April 11, propelling its market capitalization to nearly $200 million.
Before this meteoric rise, blockchain analytics firm Lookonchain had identified a trader’s foresight in investing in APU a month prior. The trader executed several transactions on March 11, accumulating approximately eight billion APU tokens. Two more purchases followed, netting an additional 300 million tokens on March 13 and 24, respectively.
The total expenditure for these transactions amounted to 2.38 ETH, equivalent to about $8,300 at the time. Fast forward to April 11, and the APU token’s price peaked at $0.0007907, transforming the trader’s holdings into a multimillion-dollar fortune.
The following day, April 12, the trader initiated six transactions, transferring the funds to a different crypto wallet. This action could signify a simple transfer between wallets or the decision to sell the tokens via peer-to-peer (P2P) transactions.
Community members weighed in on the situation, with some praising the trader’s resilience in holding onto the tokens, while others speculated about the wallet’s ownership, suggesting it could belong to a developer.
While many traders exhibit patience in their investment strategies, others act swiftly to capitalize on gains, sometimes missing out on significant profits. For instance, on March 14, a trader bought around 170 million Book of Meme (BOME) tokens but sold them for $131,000 before prices surged the following day, potentially forfeiting a $2 million gain based on current market prices.
Conversely, another memecoin trader capitalized on the frenzy, turning a $13,000 investment into $2 million within just one hour. On April 3, this trader seized an opportunity with the debut of Donotfomoew (MOEW) on decentralized exchanges (DEXs), purchasing nearly 500 million MOEW tokens for 4 ETH ($13,000), which swiftly appreciated to $2 million in value within the hour.
