Trader Turns $8,673 Into $1.26 Million In Two Months With Hamster-Themed Meme Coin

A patient trader made headlines in the crypto community by turning an investment of under $10,000 into millions in just two months with a hamster-themed meme coin called Hammy (HAMMY).

What Happened: Lookonchain data revealed how the trader spent 60 Solana SOL/USD worth $8,673 to purchase 24.8 million HAMMY for $0.00035 on March 10. Around a month later, the price of HAMMY rose to $0.007, resulting in a 20x gain for the trader. However, instead of selling for a quick profit, the trader chose to hold onto their position.

On May 4, the trader finally decided to sell 12.8 million HAMMY for 2,711 SOL (around $401,000) for $0.0313. The trader still holds 12 million HAMMY tokens, which are currently worth around $858,000. In total, the trader’s profit on their HAMMY investment is estimated to be $1.25 million.

Also Read: Trader Who Turned $15K Into $5M Predicts These 4 Meme Coins To Emulate The Success Of DOGE, SHIB, FLOKI

Why It Matters: This trader’s success story highlights the potential for significant gains in the crypto market, particularly when investing in lesser-known tokens on emerging blockchains like Solana.

The trader’s patience and willingness to hold onto their position, even when faced with a 20x gain, ultimately paid off, resulting in a staggering 144x return on their initial investment.

In late March, one trader turned $3,000 worth of Dawkoins (DAW) into $215,000 after a spike in the coin's market cap to $15 million in a matter of hours. Another trader converted an investment of $13,000 into more than $2 million by trading a new meme coin named Donotfomoew (MOEW) in early April.

However, it should be noted that the crypto market is known for its volatility, and many traders have experienced substantial losses by investing in obscure tokens or chasing quick profits.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: A Trader Turns $356K Into $5.8M With Biden-Related ‘Jeo Boden’ Meme Coin

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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