A Solana (SOL) trader who initially invested a mere $800 in the popular Solana-based meme coin, Moo Deng, has realized unreal gains, with profits soaring to approximately $10 million. However, despite the massive returns from unreal meme coin trade, the Solana trader is facing liquidity obstacles, leaving him stranded as Moo Deng’s value rapidly plummets. 

Solana Trader’s $800 Meme CoinBet Nets $10 Million

New reports from Arkham Intelligence have uncovered an anonymous Solana trader who hit the jackpot with a recent investment in the popular meme coin, Moo Deng. Based on a viral baby pygmy hippo in Thailand, Moo Deng signifies the epitome of a meme-based cryptocurrency with its play theme and community-driven hype. 

According to Solana blockchain explorer, Solscan, the Solana trader had invested a modest sum of $861.8 in Moo Deng, entering the market early when the meme coin was flying under the radar and priced significantly lower than its current value. As the crypto market showed signs of stability and the popularity of meme coins grew, Moo Deng followed suit, growing from a market capitalization of about $7 million two weeks ago to $315 million at some point last month. 

This massive surge in the meme coin’s market value reflects a 350% increase, during which the trader watched his $861.8 investment soar to over $10.7 million. The Solana trader had initially purchased a total of 30.19 million Mo

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Author: Scott Matherson