A trader who invested $8,300 in a frog-themed memecoin a month ago is now 750 times richer after the token’s price experienced a significant surge. On April 11, the price of the memecoin known as Apu Apustaja (APU) skyrocketed, causing its market capitalization to reach nearly $200 million. The trader’s move to invest in APU was identified by blockchain analytics firm Lookonchain a month prior to the price action. The trader conducted a total of six transactions, accumulating approximately eight billion APU tokens on March 11. Additionally, the trader purchased an additional 300 million tokens on March 13 and March 24. In total, the trader spent 2.38 ETH, which is currently valued at around $8,300, on the memecoin. As a result of the price surge on April 11, the value of the tokens reached approximately $6.5 million. The following day, the trader transferred the funds to a different crypto wallet, potentially indicating a desire to move the assets or engage in peer-to-peer transactions for the purpose of selling the tokens. Community members shared their opinions on the situation, with one user praising the trader for holding onto the tokens and another speculating that the crypto wallet belonged to a developer. This incident highlights the different strategies employed by traders, with some quickly cashing in on their gains and potentially missing out on larger profits. For example, on March 14, a trader purchased approximately 170 million Book of Meme (BOME) tokens and sold them for $131,000 before the price surged. Based on current market prices, this trader missed out on a potential gain of $2 million. However, another memecoin trader capitalized on the frenzy, turning $13,000 into $2 million in just one hour. This trader discovered a memecoin called Donotfomoew (MOEW) on April 3, shortly after its launch on decentralized exchanges. By investing 4 ETH ($13,000) and purchasing almost 500 million MOEW tokens, the trader’s investment quickly grew to a value of approximately $2 million within an hour.
Trader Strikes Gold with $6 Million Windfall from $8,000 Investment in Ethereum Memecoin