Meme Coin Traders Capitalize on Roaring Kitty Frenzy: Trade Solana (SOL) for These Tokens to 14X Their Investment
The latest meme coin frenzy, fueled by the return of the legendary trader known as @TheRoaringKitty on X (formerly Twitter), has presented lucrative opportunities for savvy crypto investors.
According to data from SpotOnChain, one trader has managed to amass an impressive $1.17 million in profits by strategically investing in $GME and $AMC tokens.
On May 13, just 8 to 11 hours after @TheRoaringKitty’s much-anticipated return to social media, the trader spent 645 SOL to acquire 30.8 million GME tokens and 327 SOL to purchase 27.6 million AMC tokens.
This well-timed investment has yielded remarkable returns, with the trader’s $GME holdings now worth 4,536 $SOL (a 7x increase) and their $AMC holdings valued at 4,590 $SOL (a staggering 14x increase).
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In a separate instance, another smart trader, possibly a fan of @TheRoaringKitty, demonstrated their keen eye for trading opportunities. According to data from Lookonchain, this trader spotted the trading potential just 8 minutes after @TheRoaringKitty’s post and promptly invested 200 $SOL (approximately $29,000) to purchase 43.86 million $GME tokens.
As the price of $GME surged, the trader strategically sold 6.12 $GME for 400 $SOL (around $58,000), effectively recouping their initial investment of 200 $SOL and realizing a profit of 200 $SOL. This astute move exemplifies a crucial trading strategy: always remember to secure your principal investment.
When the price of $GME subsequently declined, the trader wisely utilized their realized profit of 200 $SOL to buy an additional 4.14 million $GME tokens at the bottom. Five hours later, they sold 11.88 million GME for 1,358 SOL (approximately $198,000), while still holding onto 30 million GME tokens valued at $378,000.
The success stories of these two traders underscore the importance of timing and strategic trading in the volatile world of meme coins. By closely monitoring market sentiment, social media trends, and the activities of influential figures like @TheRoaringKitty, traders can identify potentially lucrative investment opportunities.
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