A crypto trader has recorded a gain of over 11,500% by trading a Solana meme coin, which has sparked discussions in the broader crypto market. The newly launched meme coin, MOO DENG, has gained notable traction lately and has returned substantial gains to investors in recent days. Besides, the crypto price was also up over 15% during writing, which has also caught the investors’ eyes.
Crypto Trader Records Massive Gains With This Solana Meme Coin Trading
The top meme coins have gained notable traction recently in the crypto market, as evidenced by the segment’s recent performance. Amid this, MOO Deng, the newly launched Solana meme coin, has returned substantial gains to investors, even with smaller investments.
According to the latest report by Lookonchain, a crypto trader has spent 6 SOL, worth just $815, to buy 30.1 million MOO DENG tokens. However, in just 17 days, that investment has soared to $9.4 million, giving a return of 11,534%.
Source: Lookonchain
Simultaneously, another investor turned $1,300 into $12.45 in the same timeframe and invested in the same token. This significant increase has sparked discussions in the broader market while indicating the growing confidence of investors toward the meme coin sector.
For instance, the broader meme sector has also noted significant gains recently, reflecting the shifting focus of the investors towards the segment. According to the latest data, Pepe Coin, Shiba Inu, dogwifhat, and BONK were among the top-performing assets this week. In addition, BitMEX co-founder Arthur Hayes has also started to accumulate meme tokens recently, indicating his growing confidence in the sector.
MOO DENG Rallies 15%
MOO DENG price soared more than 15% during the writing and traded at $0.3185, while its trading volume jumped 27% to $162.24 million. Over the last seven days, the Solana meme coin has added nearly 590%, while noting a surge of about 820% from September 21.
Meanwhile, the meme tokens have a reputation for volatility. However, their recent performance shows they offer high-risk, high-reward opportunities for those who can stomach the swings.
This rise in popularity suggests that investors are looking beyond traditional cryptocurrencies like Bitcoin and Ethereum, seeking the explosive potential of smaller, more speculative assets. Despite that, the investors should exercise due diligence, given the high-volatile nature of these speculative assets.
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