Here’s How a MOODENG Trader Turned $1.3K into $9.5M in Only 16 Days

Blockchain analytics platform Lookonchain recently highlighted the profits of a smart trader who turned a modest investment of $1,331 into a paper value of over $9.5 million in just 16 days.

The trader achieved a 7,140x return on investment.

Turned $1,331 into over $9.5M in only 16 days, a 7,140x return! #MOODENG

This guy spent 9.8 $SOL($1,331) to buy 38.7M $MOODENG on Sept 10 and sold 104K $MOODENG for 112 $SOL($17.9K)today, leaving 38.64M $MOODENG, worth more than $9.5M!https://t.co/gCR15Bjrcc pic.twitter.com/gaMG0BvKdB

— Lookonchain (@lookonchain) September 27, 2024

The trader initially bought 38.7 million MOODENG tokens on September 10, spending 9.8 SOL (worth $1,331 at the time). He made his first profit by selling 104,000 MOODENG for 112 SOL ($17,900) just a few days later.

Despite the sale, the trader still held a staggering 38.64 million MOODENG, which is currently valued at over $9.5 million.

Interestingly, on September 25, Lookonchain reported that the same trader had turned their $1,331 investment into $3.4 million in 15 days, reflecting a 2,554x return.

Over 13,000x Return Missed

Lookonchain also brought attention to a savvy investor who entered the MOODENG market when the token had a market cap of just $70,000. The trader saw the token’s value grow to a $207 million market cap, earning a profit of $392,200.

Another trader’s story shows the potential losses of premature selling. The individual bought 19.4 million MOODENG for 1.5 SOL ($203.50) and later sold the entire holding for 7.64 SOL ($1,039), securing a modest $835 gain.

The 19.4M $MOODENG this guy sold for $1,039 is now worth $2.65M! #MOODENG

He spent 1.5 $SOL($203.5) to buy 19.4M $MOODENG and sold it for 7.64 $SOL($1,039), making only $835(a 4x return).

If he had held until now, his profit would be $2.65M—a more than 13,000x return!… pic.twitter.com/o6enFxpJo4

— Lookonchain (@lookonchain) September 26, 2024

However, if the trader had held onto their position, the 19.4 million MOODENG would now be worth $2.65 million, representing a missed opportunity of over 13,000x in returns.

What is MOODENG?

MOODENG is a memecoin inspired by a viral baby hippo named Moo Deng, which became an internet sensation in Thailand after videos of her daily activities went viral on social media. The memecoin was created on the Solana blockchain on September 10, 2024, and quickly gained traction among traders and fans of the viral hippo.

The memecoin now aligns with prominent tokens like Dogecoin (DOGE) and Shiba Inu (SHIB). It has seen a rise in market value, amassing a market cap of over $200 million.

The Solana memecoin has been listed on several centralized exchanges, including KuCoin, Gate.io, and others, making it one of the more notable memecoins launched recently.