Investor Makes Millions After 1,772% Profit With This Memecoin

An unusual event sparked the creation of a meme coin that has quickly become one of the most discussed tokens in the crypto space.

What began as a controversial incident involving an animal control raid gained viral attention, and the subsequent outcry gave rise to a new symbol of resistance against regulatory overreach – Peanut the Squirel (PNUT). This memecoin, which gained significant traction, would soon capture the interest of crypto enthusiasts, especially with the ongoing memecoin mania.

PNUT, which was inspired by the viral squirrel incident, has seen a dramatic rise in value. One investor capitalized on this surge, spending 2,717 Solana (SOL) – around $450,000 – on 16 million of these meme coins on November 5, when each token was worth only $0.045. By December 6, the token’s price skyrocketed to $1.34, resulting in a nearly $8 million return for the trader, marking an impressive 1,772% profit.

While this remarkable success story is one of the standout examples, it’s far from the only one during the ongoing bull market. Another investor turned $169 into $435,000 by investing in a Leonardo da Vinci-inspired token, and a trader’s bold bet on the FRIC token saw a $6,300 investment balloon into $1.5 million within just an hour.

READ MORE:

Could XRP Replicate Dogecoin’s 2021 Success Story?

That said, these gains are the exception rather than the rule. As highlighted by a recent Binance study, a staggering 97% of meme coins created over time have ultimately failed, underscoring the inherent risks of these high-stakes, speculative investments. While stories of massive returns make headlines, the reality is that most meme coins do not survive long-term.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.