A savvy trader has made a whopping 27,600% profit after investing in a memecoin built on Ethereum’s layer-2 scaling solution, Base.
According to blockchain tracker Lookonchain, the trader bought $18,000 worth of Degen (DEGEN) in January and sold a portion of it for $5 million.
Massive Ethereum Sale
In a separate move, a large Ethereum holder recently sold 17,770 ETH for a hefty profit of $59 million. The investor had bought the Ethereum at an average price of $182, making a 23x return on their investment.
Solana Memecoin Magic
Another trader managed to turn 50 Solana (SOL) into 2,828 SOL, worth $531,000, in just two days by trading the Solana-based memecoin Cat in a Dogs World (MEW).
Market Data
At the time of writing:
- DEGEN is trading at $0.0258, up 2.69% in the last 24 hours.
- Ethereum is at $3,511, down 1.50% in the last 24 hours.
- MEW is worth $0.00548, up over 113% in the past day.
