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Savvy memecoin trader makes $988K in 3 hours despite rug pull | Bee Network

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Savvy memecoin trader makes $988K in 3 hours despite rug pull | Bee Network Login الأخبار الشائعة منصة إطلاق ميمي وكلاء الذكاء الاصطناعي ديسي مستكشف السلسلة الأعلى لنوبي 100x عملات معدنية لعبة النحل المواقع الأساسية يجب أن يكون لديك التطبيق مشاهير التشفير ديبين الناشئين الأساسية كاشف الفخ الأدوات الأساسية المواقع المتقدمة التبادلات أدوات NFT أهلاً، خروج عالم الويب 3 ألعاب تطبيق خلية نحل منصة النمو إعلان يبحث إنجليزي إعادة شحن العملات تسجيل الدخول تحميل ويب 3 يوني ألعاب تطبيق خلية نحل إعلان بيت•تحليل•فكرة•Savvy memecoin trader makes $988K in 3 hours despite rug pull Savvy memecoin trader makes $988K in 3 hours despite rug pullتحليلمنذ 1 سنة (2024)جديدالخنفساء... 38٬1871 56 Memecoins have turned numerous تشفيرcurrency investors into millionaires despite their intrinsic lack of utility.

A savvy trader made an over 2,100-fold return on investment in just three hours despite trading a scam token that turned out to be a rug pull — a scam where developers abandon a project and steal investor funds.

A memecoin trader netted nearly $1 million worth of profit in just three hours from an initial investment of only 2 Solana سول$237.38 tokens worth around $460, according to a Nov. 20 X post from onchain intelligence firm Lookonchain:

“This guy made $988K with only 2 $SOL($462) in just 3 hours, a 2,141x return! He spent 2 $SOL($462) to buy 18.89M $Quant and sold 3.71M $Quant for 116 $SOL($27K), leaving 15.18M $Quant($962K).”

Savvy memecoin trader, QUANT buy. Source: Lookonchain The savvy trader was trading the newly-created Gen Z Quant (QUANT) memecoin, a token created through Solana’s memecoin launchpad, Pump.fun, which subsequently turned out to be a fraudulent cryptocurrency.

Despite being known for extreme volatility and a lack of fundamental utility, memecoins like QUANT continue to attract traders seeking quick gains. Instances of traders becoming millionaires through memecoins are not uncommon. In May, a Pepe بيبي$0.00002004trader turned $3,000 into $46 million in a month, capitalizing on the frog-themed memecoins price rally.

Quant memecoin trader makes over 2,100x return on investment despite rug pull The savvy memecoin trader managed to generate a significant profit of nearly $1 million, despite the fact that the QUANT memecoin was launched as a fraudulent rug pull.

The QUANT memecoin was created on Nov. 20 by wallet “Fi2h.” The fraudulent token and subsequent rug pull was orchestrated by a teenager who live-streamed as he sold all his tokens, Lookonchain wrote in a Nov. 20 X بريد:

“A kid created a coin $Quant while live-streaming and sold all of it for 128 $SOL($30K), making a profit of $29.6K! The 51M $Quant he sold is now worth $4M! He then created $lucy and $sorry, selling all of them for another profit of 103 $SOL($24K)!”

QUANT creator. Source: Lookonchain Despite the teenager’s efforts to rug the investors and make away with the liquidity, the memecoin continued to rally.

In response to the live-streamed rug pull, the memecoin community joined hands to continue investing in the token, which rose to a high of over $1 million in market capitalization, GeckoTerminal data shows.

QUANT/USD, market capitalization, all-time chart. Source: GeckoTerminal The token traded at $0.0005, with a $571,000 market capitalization, as of 10:18 am UTC.

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