20 days assets skyrocketed k times! Trader made 1.62 million pounds by buying 'these 2 coins' with 1000 pounds.

20-day asset frenzy, increased k times!

Driven by the big pump of Bitcoin ($BTC), the entire market has been rebounding recently. As the market improves, it is inevitable to see a large number of investors starting to seek various new opportunities in the primary market.

Among them, the largest share is probably taken by memecoins, which have high risks and considerable returns. According to the data provided by the encryption analyst Ali Martinez, the performance of memecoins in recent weeks has far exceeded the market average. Only considering mainstream memecoins, the return rate in the past week has reached 63.71%.

Today we are going to talk about the common stories of getting rich in the meme coin frenzy. According to the tweet from on-chain data analysis company Lookonchain, they observed a trader who, within a short period of 20 days, turned $1,100 into 01928374656574839201 times with 2 meme coins, ultimately making a profit of over $1.62 million and achieving financial freedom successfully.

Traders make a fortune by buying 'these 2 coins'

According to Lookonchain's data, this trader purchased 16.44 million Solana on-chain memecoins, Urolithin A ($URO), approximately 20 days ago at a price of 4.35 $SOL (about $768). It initially seemed like a test, but as the coin price of $URO continued to rise, he subsequently chose to convert all of his memecoin assets into $URO.

Image source: Data from X Lookonchain

As of Lookonchain observation, he himself has held about 16.78 million $URO Tokens, worth $572,000 after the continuous rise in $URO coin price, realizing nearly 714 times profit.

And his success momentum continues. Just 16 days ago, when another meme coin Rifampin ($RIF) had a market capitalization of over $100 million, he again invested 11.84 million $RIF with a principal of 1.8 $SOL (about $300).

Image source: Data from X Lookonchain

As the coin price soared, he quickly made a profit-taking strategy, selling 1 million $RIF at a price of $94,335 $USDC, while retaining the remaining 10.84 million Tokens. As of now, the Market Cap of the remaining Tokens has reached $957,000, and the total profit has reached an amazing 3,503 times.

By combining the returns of $URO and $RIF, this trader turned the initial investment of $1,100 into $1,620,000 in just 20 days.

Are you lucky or is it "insider trading"?

However, similar stories have always been controversial, with many questioning whether behind these stories of getting rich through memetic coins, there might be some kind of internal transaction result, as in the cases of coins such as Goatseus Maximus ($GOAT) and Daddy Tate ($DADDY) that have been repeatedly exposed as suspected internal transaction cases.

Aside from the controversy surrounding 'insider trading', the success of this trader is not replicable for everyone. Although the meme coin market seems to have created many rags-to-riches myths, the success stories are largely influenced by the 'survivorship bias'.

In the crypto world, people on social media often share their successes but not their failures. Traders may make money on $URO and $RIF, but they may also lose big on various dead memes.

In addition, the value of meme currency still comes from the hype and market sentiment of social media, rather than actual application, and the risk is still very high. Investors should measure the range of risks they can bear to avoid losing all their assets due to one gamble.

Disclaimer: The market is risky and investment should be cautious. This article does not constitute investment advice. The analyst's views are for reference only. Users should consider whether any opinions, views, or conclusions in this article are applicable to their specific circumstances. Investment based on this is at your own risk.

'20 days assets skyrocketed k times! Traders rely on buying 'these 2 coins', and made a profit of 1.62 million pounds with 1,000 pounds.' This article was first published in 'encryption city'.