Here’s How a Memecoin Trader Turned $160 Into $6.14M With $CHILLGUY

A memecoin trader has reportedly turned a $160 investment into an estimated $6.14 million in less than two weeks, achieving an extraordinary 38,399x return on investment.

Turned $160 into $6.14M, ​​a 38,399x return!

12 days ago, this trader spent only 0.75 $SOL($160) to buy 12.5M $CHILLGUY on https://t.co/DrKlYnPPqY, and then sold 2.8M $CHILLGUY for 149 $SOL($35.4K). #CHILLGUY

The trader still holds 9.62M $CHILLGUY($6.1M), with a total profit of… pic.twitter.com/a5tPaB3KpT

— Lookonchain (@lookonchain) November 27, 2024

Blockchain data shows the trader used 0.75 SOL (equivalent to $160) to purchase 12.5 million CHILLGUY, a Solana-based memecoin. Following the purchase, the trader sold 2.8 million CHILLGUY tokens for around $35,400 (149 SOL) while retaining 9.62 million tokens valued at $6.1 million.

The impressive 38,399x profit mirrors another notable success involving CHILLGUY just a week earlier. In that case, another trader reportedly achieved a 128x return on their investment.

The individual initially spent $21,000 to acquire 26 million CHILLGUY tokens. As the token’s price surged, the trader sold 23.8 million tokens, earning $2.24 million. The trader still holds 2.25 million tokens worth approximately $459,000, bringing their total profit to $2.68 million.

Trader Turns $296 Into $650K in 4 Hours

The Solana network has recently been a hub for profitable memecoin trades. In addition to CHILLGUY, other Solana-based memecoins like PNUT and SLOP have also delivered considerable gains.

In October, on-chain data revealed a trader who transformed a $296 investment into $650,000 within four hours by trading SLOP.

The trader purchased 38.17 million SLOP tokens using 1.76 SOL ($296) through Raydium, a decentralized automated market maker (AMM). Following a rapid price increase, the trader sold 29.78 million tokens for 2,412 SOL, equivalent to $405,000, while retaining 8.39 million tokens valued at $215,000. 

Memecoins Boost Solana’s Revenue

The growing popularity of memecoins on the Solana blockchain has significantly boosted the network’s activity and revenue. On November 19, Solana recorded $11.84 million in transaction fees and $5.92 million in revenue, spurred by memecoin transactions. 

As per DeFiLlama, Raydium, Solana’s leading decentralized exchange, reported nearly $15 million in fees over two consecutive days (November 18 and 19), generating about $1 million in daily revenue. Additionally, Solana’s MEV infrastructure provider, Jito, set a new benchmark with $15.55 million in fees and $622,000 in revenue.