A Solana ($SOL)-based cryptocurrency trader has seen their investment in the memecoin 114514 grow from $321 into a multimillion-dollar position in just 11 days.
On-chain data shows the trader, identified by the wallet address starting with 8BGiMZ, began accumulating 114514 roughly nine to eleven days ago using small, staggered swaps from wrapped $SOL, according to insights from Lookonchain retrieved by Finbold on January 6.
Individual purchases ranged from less than $1 to about $57 per transaction, indicating a deliberate accumulation strategy rather than a single high-conviction bet.
In total, the wallet spent approximately 0.85 $SOL, valued at around $321 at the time, to acquire roughly 45.58 million tokens.
As a result of the price spike, the trader’s holdings were valued between $2.1 million and $2.8 million at peak levels, depending on intraday price fluctuations.
Even using the more conservative valuation of $2.18 million, the trade represents an extraordinary return of roughly 6,800 times the initial capital in less than two weeks.
Trader’s position reduction
On-chain data shows the wallet has not meaningfully reduced its position, suggesting most gains remain unrealized. With liquidity below $1 million, the token carries significant volatility and exit risk, yet it has still attracted heavy retail participation.
At the time of accumulation, 114514 was trading at fractions of a cent with minimal market attention. That changed rapidly as liquidity and trading volume surged.
Notably, rooted in Japanese internet culture, 114514 surged 992% over the past 24 hours, pushing its market capitalization to roughly $16.8 million as trading volume climbed above $16 million.
The move marks one of the sharpest short-term rallies among Solana-based meme coins, fueled by renewed retail interest and viral attention tied to the long-standing 114514 meme across Japanese and Chinese online communities. By press time, the token was trading at $0.01194.
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