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As was the case with many savvy cryptocurrency investors during the 2024 bull market, one trader made a small fortune with meme coins within just a few days. Specifically, one investor spent 603 Solana (SOL) – worth approximately $86,000 – on October 11 to purchase 10,7 million $GOAT. On October 17, the same trader offloaded some 700,000 $GOAT making about $222,000.  Interestingly, the cryptocurrency investor missed an opportunity to sell the Solana-based meme coin at its peak. Indeed, at one point, the 10.7 million $GOAT was worth as much as $3.75 million. $GOAT price chart with the ‘smart money’ buys and sells market. Source: Lookonchain Additionally, the trader runs the risk of many actors in the market as he still holds 10 million of the token, meaning he may either rake in well over the $2.74 million the holding is worth on October 17, or it could go to $0. Still, at press time, the investment appreciated 3,360%. $GOAT millionaire’s patience rewarded with 226% return on $BILLY Whatever the fate of the trader’s $GOAT, it isn’t the only cryptocurrency they recently successfully flipped. Specifically, they wagered $182,000 in June on $BILLY. As it turned out on October 17, the bet and the patience paid off and the investor cleared the entire position for $593,000, raking in $411,000 in profits – a 226% return rate. $BILLY price chart with the ‘smart money’ buys and sells market. Source: Lookonchain As impressive as the two trades were, they are far from the most successful bets on $GOAT. On October 15, Finbold reported on another trade involving the cryptocurrency in which one trader spent only 5 SOL – $727 – to purchase 5.7 million $GOAT. When they sold, they received 5,949 Solana, worth $931,000 and retained a substantial position in the meme coin, likely…

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Filed under: News - @ October 17, 2024 2:21 pm