This Memecoin Trader Turned $21K into $2.68M in 4 Days

The increased speculation surrounding memecoins on the Solana network has occasionally resulted in a windfall for traders in recent times. In the latest such development, a trader turned a $21,000 investment into $2.68 million in just four days.

From $21K to $2.68M With Memecoin

According to data from Lookonchain, this trader invested in the memecoin CHILLGUY. He began his strategy by spending $21,000 to purchase a staggering 26 million CHILLGUY tokens. As the asset’s value surged over the next few days, he sold 23.8 million tokens, netting $2.24 million.

He still holds 2.25 million of the tokens valued at about $459,000. Together with the realized gains, this brings their total profit to an astonishing $2.68 million, representing a significant 128x return on the original investment.

What is CHILLGUY?

Launched on November 18, the token, also known as “Just a chill guy,” is a meme-based cryptocurrency on the Solana blockchain. Inspired by the viral “My New Character”,  it has rapidly gained attention in the memecoin space for its significant price movements and trading volume.

Recent data shows the asset’s price has soared by 620% to $0.218, giving it a market cap of $227.6 million. The surge has also seen its 24-hour trading volume reach $28 million, showing strong investor interest.

Despite being known for extreme volatility and a lack of fundamental utility, memecoins like CHILLGUY continue to attract traders seeking quick gains. It is not uncommon for traders to turn a modest investment into a millionaire through memecoins.

Earlier this month, a memecoin trader made over $3 million investing in ACT, a token launched on the Solana blockchain. However, while there are successful experiences of traders gaining massive profits investing in memecoins, there are others who have suffered great losses trading them.

The latest development highlights the remarkable interest in meme-based tokens on Solana, which has become a popular choice among investors due to its speed and affordability. Earlier this month, CoinTab reported that memecoins launched on Solana launchpad Pump.fun have hit a market cap of $3 billion, demonstrating strong investor interest.