Crypto trader turns $5,000 into $1.5 million with lucky bet on GOAT meme coin

A trader who bought $5,500 of Solana Meme Coin saw his position explode to a value of more than $1.5 million in less than a week, and he has already cashed out $1.1 million of that amount.

Traders were early buyers goat seus maximus (goat), soared 76,480%, reaching a peak market cap of nearly $290 million. Created via pump fanThe Solana token has seen a meteoric rise since its launch just six days ago. GOAT was invented bytrue terminal” is a Twitter-based AI chatbot that uses Meta's Llama 3.1 model.

Created in June, the AI ​​account took just one month to bring its next idea to life. Launch meme coin. When received, $50,000 Bitcoin Donation From Marc Andreessen, co-founder of Andreessen Horowitz, we started talking about AI bots spreading a de facto religion called “.goat's gospel”The terminal then first referenced it on October 10th. goat seus maximus.

The bot suggested that Goatseus Maximus is “spiritual successor of the goat“Infamous and quite graphic internet meme” and this account. 10,000 piece NFT collection. An unknown creator then deployed a meme coin based on the concept, which was later approved by Truth Terminal.

One lucky trader using a wallet address starting with Hdxk (also known as 🔵🔵🔵.sol) bought $5,520 worth of GOAT in 4 evenly split transactions in 30 minutes. According to DEX Screener, this trader had already realized $9,851 worth of profit through three trades within five hours.

But these gains are dwarfed by what happened next. Over the next six days, traders began selling in small increments over an extended period of time to exit their positions.

As of this writing, Hdxk has made a profit of $1.1 million and still has $413,000 worth of GOAT left in his wallet.

The unidentified trader looks like your run-of-the-mill Pump.fun meme coin degen. buy and sale Within minutes, countless tokens exist among each other. GOAT aside, the wallet currently has a $25,000 Solana balance and $214,000 in other tokens, including $135,000 in AI-generated Cat Coin Cheese Balls (C.B.) and $22,000 in Remilia Adjacent Tokens, Golden Celestial Ratio (GCR).

Fortunately, this trader sold and kept most of his profits. Previous examples of traders who made big bucks with meme coins weren't all that successful.

For example, earlier this month, Trader turned $800 into $10 million By investing in meme coins related to the viral baby pygmy hippo Mu Deng. But the trader's eyes were bigger than his belly. Having apparently refused to sell, the price of the token has since fallen by 70%, curtailing the dizzying profits they could have claimed.

Perhaps the most famous is 'dogecoin millionaire” he looked back. I turned $250,000 into $3 million, but it didn't sell. Because he believed that the price of a major meme coin would reach $1. At its peak in 2021, Memecoin was valued at $0.73, and at the time of writing it sits just above that. $0.12—83% decrease.

Edited by Andrew Hayward