Memecoins have recently been endeavoring to get back the attention while the crypto market is experiencing recovery. Lookonchain, a prominent blockchain analytics platform, has highlighted a crypto address that made a significant profit in
after purchasing several meme tokens. On its official account on X, the analytics forum provided the details of the respective event.
Is it profitable to trade #MEMEcoins like buying lottery tickets?
topcaller.sol has bought 5,417 #MEMEcoins since April 9, investing an average of 0.215 $SOL each.
7 of the #MEMEcoins had an ROI of over 1000%, with a total profit of 290 $SOL.
The win rate for his #MEMEcoin… pic.twitter.com/gBuCZnTvYv
— Lookonchain (@lookonchain) May 6, 2024
Memecoins Trader Obtains 209 SOL in Gains by Using Tokens as Lottery Tickets
Lookonchain pointed out that the respective trader reportedly traded meme tokens like purchasing tickets. In addition to this, it brought to the front that a crypto trader, going by “topcaller.sol,” reportedly purchased 5,417 tokens. According to the analytics company, the trader had bought the respective coins since the 9th of the last month.
In doing so, the trader reportedly invested a very small amount of SOL in each of the meme coins. It added that, on average, the trader invested up to 0.215 SOL tokens in each of the meme coins. While providing the details of the meme tokens, the analytics provider disclosed that they included Worken, Tremp Family, and TIM. Additionally, they also took into account SolCex, NAZA, HULVIN, and DogWefHat along with 5,410 other meme tokens.
7 Meme Tokens’ ROI Reaches 1000%, Offering Huge Rewards
The trader intended to make a profit with the respective investment thereof. After that, the aforementioned seven meme tokens witnessed a significant ROI of more than 1000%. This paves the way for a substantial profit of up to 290 SOL tokens for the trader. LookOnChain also clarified that 0.13% was the win rate for the meme coin lottery tickets of “topcaller.sol.”
