New Solana-Based Meme Cryptocurrency Yields 335,000% Gains for Trader Within Five Days, Reports Lookonchain

An investor known in the cryptocurrency circles as a “crypto whale” has reportedly netted a multi-million dollar profit from a meme-based digital currency on the Solana platform within a mere five-day span. The cryptocurrency in question is tied to Solana (SOL).

Blockchain analytics provider Lookonchain has identified that a well-funded trader converted an investment of $727 in Goatseus Maximus (GOAT), into a staggering $2.44 million.

“This individual offloaded 15.15 million GOAT [on October 15th], morphing a modest five SOL ($727) into a monumental 15,883 SOL ($2.44 million) in a brief five-day window, registering a return of 3,176 times the initial investment! Amusingly, this investor goes by the moniker ‘stupidmoney.sol’.”

Another observation made by Lookonchain showcases a different investor standing to make $2.8 million in earnings after securing in excess of 10 million GOAT on October 11th.

“A discerning investor turned a profit of $2.88 million (an increase of +3,360%) on GOAT… After purchasing 10.7 million GOAT ($3.75 million at its peak) with an investment of 603 SOL ($86,000) six days ago, this individual sold 0.7 million GOAT for 1,453 SOL ($222,000) [on October 17th], retaining 10 million GOAT ($2.74 million).”

Furthermore, the memecoin has gained recognition with recent listings on notable cryptocurrency exchanges including Gate, Crypto.com, and HTX.

As of the current update, GOAT is valued at $0.2933, exhibiting an 18.5% price uptick in the preceding day. Its market capitalization sits at $291.7 million, positioning GOAT as the 220th largest digital asset in the crypto space.

The anonymous strategic market commentator Altcoin Sherpa has projected that Goatseus Maximus might see an approximate 71% surge from its current market valuation.

“GOAT: I foresee a [market cap of] $500 million on the horizon. I’m still holding a substantial position of this and will contemplate shaving off some profits at that level.”

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