Wednesday, 28 February 2024

Crypto News

Meme Moguls grabs investor attention as trader turns $62 into $2M with Solana meme coin

Meme Moguls grabs investor attention as trader turns $62 into $2M with Solana meme coin

  • Meme Moguls (MGLS) has accelerated its presale as more participants bet on the new meme-based assets platform.
  • Increaased investment in MGLS comes as one trader reportedly turns 1 SOL ($62 at the time) into $2 million as they traded a Solana-based meme coin.
  • MGLS is priced at $0.0025 and in stage 3 of the presale.

In one spectacular moves in the crypto market, a savvy trader turned a modest $62 into a fortune as their bet on a Solana-based meme coin returned over $2 million. The trader’s jackpot isn’t isolated as more and more regular traders become adept at spotting gems across the market.

One of those likely to grab more attention as the crypto market flips bullish is Meme Moguls – a new token set to bring the benefits of trade-and-earn to the increasingly profitable meme coins sector.

Huge win as meme trader 1.5 SOL into $2 million

An on-chain analytics platform has alerted the crypto community to the exploits of one trader that managed to turn 1 Solana (SOL) into millions of dollars after trading a Solana-based meme coin.

According to details shared by Lookonchain on December 27, the trader had used 1 SOL (worth about $62 at the time) to buy Silly Dragon (SILLY).

The transaction, initiated five minutes after SILLY opened trading, was for 43.1 million SILLY tokens and in 22 days, they had seen their bet grow to over $2 million worth of the meme coin. After cashing out $528k, the trader held over 9.7 million of the meme token (worth about $1.5 million).

Can regular traders make such money on meme coins? Recent rallies for Bonk (BONK), Pepe (PEPE) and other tokens have returned staggering profits for many traders. 

Earlier this year, one PEPE trader reportedly made $1.02 million from a $250 investment, while another invested $4,410 and saw it return $1 million.

While major losses have also occurred in the crypto market, it could be argued that the chances of an opportunity of a lifetime are also there. Due diligence is critical and the initial investment doesn’t have to be all that one owns.

Meme Moguls: Play, trade and earn with meme coins

Meme Moguls is a new meme-based platform offering a stock market-style trading exchange. At its core, Meme Moguls is designed to offer earn opportunities to meme coin traders.

Powered by the ERC-20 token MGLS, Meme Moguls is an exchange whose ecosystem leverages an innovative play-to-earn…

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