An anonymous trader earned $1.28 million from the FAI meme token in just two days, as noted by analysts at Lookonchain.
Turn $15.3K into $1.29M in just 2 days on #Base!
This trader spent 4.2 $ETH($15.3K) to buy 253.63M $FAI 2 days ago, then sold 91.8M $FAI for 106.2 $ETH($384K), leaving 161.8M $FAI ($911K).
Total profit: $1.28M!
Address:https://t.co/0Xh2sS4xayhttps://t.co/iTtcCq2Blt pic.twitter.com/fShKhyMJGu
— Lookonchain (@lookonchain) November 30, 2024
On November 27, the trader spent 4.2 ETH (approximately $15,300) to purchase 253.63 million FAI.
Over the next two days, they sold 91.8 million FAI for 106.2 ETH (around $384,000), leaving 161.8 million FAI valued at $911,000 in their wallet.
Analysts estimated the total profit, including unrealized gains, at $1.28 million.
In September, an unknown investor spent $815 in SOL to acquire 30.1 million MOODENG meme coins. Seventeen days later, the asset’s value surged to $9.4 million.
In October, a trader turned $727 into $2.42 million in just four days with the GOAT meme token.
Billionaire Mark Cuban believes all meme tokens are potentially “prolonged” rug pull scams.