A crypto whale is on the verge of realizing a significant multi-million dollar profit from a Solana (SOL)-based memecoin after just five days.
According to on-chain data aggregator Lookonchain, a wealthy investor transformed $727 in Goatseus Maximus (GOAT) into an impressive $2.44 million.
“This individual sold all 15.15 million GOAT [on October 15th], converting five SOL ($727) into 15,883 SOL ($2.44 million) in merely five days, yielding a 3,176x return! Notably, he has dubbed himself ‘stupidmoney.sol’.”
Lookonchain also identified another astute investor who stands to gain $2.8 million after acquiring over 10 million GOAT on October 11th.
“This savvy investor bagged $2.88 million (+3,360%) on GOAT… He invested 603 SOL ($86,000) to purchase 10.7 million GOAT ($3.75 million at peak) six days ago and sold 0.7 million GOAT for 1,453 SOL ($222,000) [on October 17th], retaining 10 million GOAT ($2.74 million).”
The memecoin has recently secured listings on Gate, Crypto.com, and HTX exchanges.
As of now, GOAT is priced at $0.2933, reflecting an 18.5% increase in the last 24 hours. With a current market cap of $291.7 million, GOAT ranks as the 220th largest cryptocurrency project.
Pseudonymous analyst Altcoin Sherpa recently noted that Goatseus Maximus’s market cap could potentially surge beyond 71% of its existing value.
“GOAT: $500 million [market cap] next in my view. I’m still holding a substantial amount of this and may consider taking some profit at that point.”
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