The post Meme Coin Trader Turns $800 Into Over $1.3 Million After Aping on MooDeng appeared on BitcoinEthereumNews.com.

Este artículo también está disponible en español. Some top coins of Solana, Bitcoin, and even Ethereum are edging higher. However, while holders are barely up double digits over the past week, a meme coin trader on Solana is swimming in profits at spot rates. MooDeng Trader Turns $800 To $1.3 Million According to Arkham, a blockchain intelligence platform, the trader, who got in early, scooping $800 worth of MooDeng, a meme coin in Solana, has seen the investment swell to over $1.3 million roughly two weeks after buying.   Related Reading: Analyst Warns Of Short Squeeze as Bitcoin Futures Market Heats Up The address, also the largest holder of the MoonDeng meme coin, had already seen the initial investment soar by over 500X by September 17, rising to nearly $400,000. However, a week later, that same investment is up, rising to $1.3 million on September 24. Meme coin trader buys $800 worth of MooDeng | Source: @ArkhamIntel via X A glance at MooDeng’s price action shows that the token is inching higher. Notably, this superb performance coincides with a sharp change in fundamental factors following the interest cut by the United States Federal Reserve. Solana price trending upward on the daily chart | Source: SOLUSDT on Binance, TradingView Following the 50 basis point reduction, Ethereum, Solana, and Bitcoin have been firm, shaking off weakness. Specifically, the revival of Solana prices from September lows has been a reprieve for some of its ecosystem tokens, especially meme coins. Solana Meme Coin Ecosystem Recovering Over the last week, Solana has added nearly 11%, according to Coingecko data. The expansion has also seen the total market cap of Solana meme coins rise to $7.2 billion, adding 8% in the past 24 hours. Out of this, DogWifHat (WIF) is the largest meme coin on Solana, commanding…

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Filed under: News - @ September 24, 2024 11:19 pm