Meme Coin Trader Turns $3,500 Investment into Millions in a Few Days

Bitcoin is currently experiencing a significant price increase amidst the excitement of 'Uptober,' drawing attention from bold investors who are making impressive gains in the meme coin market.

One notable trader made headlines by investing 20 Solana (SOL), around $3,500, to acquire over 47 million ai16z tokens on October 25. By October 27, this investment skyrocketed in value to approximately $3.2 million. However, the euphoria was short-lived, as the investment plummeted by $1.3 million in less than a day, with ai16z’s market capitalization dropping from nearly $100 million to $44 million by October 29.

The ai16z token is linked to a newly launched fund on the daos.fun platform, designed to let holders influence an automated investor dubbed Marc ‘Ai’nderssen—a playful nod to Marc Andreessen of the well-known Andreessen Horowitz.

This fund aims to target promising artificial intelligence (AI) projects and positions itself as “stage agnostic,” indicating a flexible investment approach. However, as of October 29, the fund has yet to commence trading, and its mission statement blends humor with investment aspirations, cautioning potential investors.

The rise of the ai16z token is part of a broader trend of non-human cryptocurrency millionaires. For instance, a trading bot named truth terminal recently surpassed $1.5 million in meme coin investments, while another bot, terminal_of_fun, reported a remarkable 100% win rate in its cryptocurrency market bets as of October 22.