An investor has multiplied their investment 750-fold with the meme token Apu Apustaja (APU), according to analysts at Lookonchain.
Is #MEME season on #Ethereum coming again?
This trader turned $9K into $6.27M on #Ethereum in only 1 month, a gain of 693x!
He spent 2.385 $ETH($9K) to buy 8.36B $APU from Mar 11 to Mar 24.
The 8.36B $APU is now worth $6.27M!https://t.co/hcpCnTWxL1 pic.twitter.com/LXlB5dVSWY
— Lookonchain (@lookonchain) April 11, 2024
Between March 11 and 24, the investor purchased 8.36 billion APU for 2.385 ETH (approximately $9,000 at the time).
On April 11, the meme coin’s price reached a peak above $0.00076, with a market capitalization nearing $200 million. The value of the coins in the trader’s address reached approximately $6.5 million.
On April 12, the investor executed six transactions, moving just over 8.3 billion APU.
One user on X praised the trader for holding their position, while another speculated that the trader might be a developer. In response, a community member stated they bought APU “at the same time.”
No. I bought at the same time of him. He is just early.
— X (@yourfrenapu) April 11, 2024
Another commentator suggested the investor “knows something” if they are still holding the coins.
Bro still holds? He must know something ☠️
— DeFi Warhol (@Defi_Warhol) April 11, 2024
Previously, the trader had multiplied their investment 195 times with the EPIK meme token on the Solana blockchain. Before that, another user turned 0.1 ETH into $8.39 million with low-cap coins.
Cointelegraph Magazine researchers have identified one in six meme coins on Base as fraudulent.