Cryptocurrency Trader Multiplies $10,000 to $400,000 in Just Ten Minutes

The surge in the cryptocurrency market that began intensifying since the previous October has spurred a succession of shrewd cryptocurrency trades, catalyzing some traders’ rapid ascent from modest means to wealth.

Particularly of late, there have been numerous instances where astute crypto traders have multiplied their investments manyfold within mere hours, with fresh narratives surfacing with remarkable regularity.

One such event unfolded on June 2, when a trader turned an investment of 60 Solana (SOL), valued at roughly $10,000 at that point, into nearly 90 million HAPPY tokens, a new cryptocurrency on the scene.

Merely 10 minutes after, the same investor flipped their holdings of HAPPY for close to 2,500 SOL, equating to about $400,000, according to data reported by Lookonchain on X.

In a remarkable turn of events, the investment soared up to 3,900% in value.

The developer behind HAPPY, known as bazingahappy on X, had earlier spent about $14,000 in SOL to acquire nearly 79% of the total available supply of the currency, as uncovered by Lookonchain.

In a response to Lookonchain, bazingahappy made it clear that they were not involved in the incredible 10-minute trading feat, as indicated in their commentary.

The High-Risk Nature of Trading New Cryptos Despite Appealing Rewards

Recent stories abound with traders who leveraged modest sums, under $1,000, turning them into $650,000 in mere hours, or those who escalated their initial tens of thousands to millions dollars within a few days. It remains imperative to note that the current bull market also sees a resurgence of not just success tales but drawbacks.

Navigating the trading waters of newly issued altcoins and meme coins is fraught with peril, and the persistent presence of scams and costly blunders amplify these risks.

One cautionary tale involves a team member of a new meme coin called Slerf (SLERF) who, in an unfortunate mishap, erased $10 million worth of the currency upon its debut.

Around that time, another meme coin, CondomSOL, went down in history as a classic rug pull scam, leaving investors high and dry.

Disclaimer: The content on this site is not to be construed as investment advice. Investment is speculative by nature, and there is always the potential risk of loss of capital.