$401 to $1.6 Million? Here’s the Wild Story of a Trader Who Hit Big with Moo Deng

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Joel Frank

Author

Joel Frank

About Author

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology…

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Last updated:

October 1, 2024 12:56 EDT

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Three weeks ago, an anonymous trader took a chance on 11.9 million Moo Deng (MOODENG) tokens, a meme coin still under the radar, with a $401 investment in 4 SOL.

What started as a small risk has grown into one of their most rewarding trades

According to on-chain investigator Kakashi, the trader initially spent 4 SOL, equivalent to $401, to acquire Moo Deng tokens.

They have already sold 3.3 million of those tokens, securing a profit of $59,600.

The remaining 8.47 million tokens in their portfolio now have an unrealized gain of around $1.6 million, although it was as high as $1.9 million at the time of Kakashi’s post.

For verification, readers can use the Solana blockchain explorer, Solscan.io, where the trader’s portfolio shows a current value of $1.73 million.

This includes $95,600 from another obscure Solana meme coin called Brainlet (BRAINLET).

The exact transaction where the trader bought the Moo Deng tokens can also be viewed on Solscan here.

How High Can Moo Deng Go?

As the trader’s success grows, many are wondering: How high can Moo Deng go?

According to DEXScreener, Moo Deng recently had a market cap of around $180 million, having reached as high as $336 million a few days ago.

The recent dip may present an entry point for some traders, as Moo Deng’s social media presence has been growing steadily.

The token’s official Twitter page has 59,000 followers, while its Telegram group has close to 5,000 subscribers.

Moo Deng’s strong community support and growing popularity suggest it could become one of the next major meme coins, potentially reaching a $1 billion market cap.

If that happens, the trader who initially invested $401 could see their portfolio grow to over $8 million.

That would represent gains of over 20,000x on their initial $401 investment. That is one hell of a trade.

The Rise of Moo Deng and Its Future Prospects

Historically, investing in new meme coins before they gain widespread attention has been a strategy for some traders to achieve significant returns.

Moo Deng is a prime example of how an early bet on a relatively unknown token can lead to exponential profits.

Meme coin presales can also provide opportunities for similar gains. One of the most exciting new presales currently underway is Meme Bets (MEMEBET).

This project plans to launch a web and Telegram crypto casino, potentially becoming the first GambleFi protocol allowing crypto investors to wager using meme coins.

In just a few short weeks, the presale has raised $350,000, with traders eager to secure tokens in anticipation of the casino’s success.

The project is attracting attention for its potential to become a major player in the GambleFi space, thanks to its appeal to the meme coin community.

In the below video, Cryptonews.com’s in-house presale analyst Crypto Chester explains why Meme Bets is one of the best coins to buy now.

Visit Meme Bets Now

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.