Shocking news as MANEKI turned a mystery trader into an instant millionaire with a single trade on the crypto space. According to a tweet, the unidentified trader turned $110K into a whooping $8.72M in just 3 hours of trading after buying the token.
The rest of the tweet continued, “He was not the first to buy $MANEKI, but he successfully spent 716 $SOL($110K) to snipe 1.02B $MANEKI(11.51% of the total supply) 27 seconds after opening trading. He then distributed 1.02B $MANEKI across 15 wallets, currently worth $8.72M.”
This trader turned $110K into $8.72M in just 3 hours by buying $MANEKI!
He was not the first to buy $MANEKI, but he successfully spent 716 $SOL($110K) to snipe 1.02B $MANEKI(11.51% of the total supply) 27 seconds after opening trading.
He then distributed 1.02B $MANEKI across… pic.twitter.com/HMH1GvRU8F
— Lookonchain (@lookonchain) April 22, 2024
Solana native cat coin $Maneki was inspired by the legend of the Japanese beckoning cat which is believed to be a symbol of wisdom, success, goodluck, leadership and prosperity. Since its launch, the value of the meme coin has skyrocketed, causing it to trend.
MANEKI Gained 14,000%
Some hours after the Solana network introduced the token, the value of $MANEKI went up by about 14,000%, landing at a market cap of $90 million and in the last 24 hours, it recorded a trading volume of $200 million.
At the time of writing, $MANEKI is trading at $0.001187 with a market cap of a little over $35k. With reports of traders making significant profits as a result of investing in the token, the hype on $MANEKI might not be going down any time soon.
Are Memecoins Taking Over The Space?
Memecoins seem to be on the rise as another memecoin trader also scored big just yesterday. The trader invested $9,775 and made $10 million in 24 hours after purchasing $GUMMY.
Rather than selling off immediately, the trader held the token and sold it at a later time causing the input he invested to yield seven figures in a single trade. Like every other quick gains, the trade caused a stir in the space as many wondered how the exchange was possible.
According to a report on on-chain data, the trader withdrew the coin he used for the transaction a few minutes before the purchase, leading to speculation that the trader might have laid hands on insider information.
Will the trending craze with memecoins continue for a long time or is it going to burst soon? Only time will tell.
