Trader Turns $4 into $63,400 with Meme Coin Investment

A Solana holder managed to earn $63,400 in just five hours with minimal investment in the meme coin WolfWifBallz, as noted by analysts at Lookonchain.

What can you do with $4?

This trader made $63.4K with only $4!

He spent 0.025 $SOL($4) to buy #MEMEcoin $BALLZ, and sold it for 428.15 $SOL($63.4K) 5 hours later.

Making 428 $SOL($63.4K), a gain of 17,125x!https://t.co/zs2Y4CWKfD pic.twitter.com/CDzL4T866X

— Lookonchain (@lookonchain) March 11, 2024

On March 10, a user spent 0.025 SOL ($4) to purchase 4,367,218.49 BALLZ. Five hours later, following a significant price increase, the assets were sold for 428.15 SOL ($63,400).

The gain amounted to 17,125 times the initial investment.

Users on X have already accused a group of bloggers of shilling the coin to execute a Pump & Dump scheme. They drew parallels with another Solana-based token, analoS, launched in December 2023. At that time, traders also made substantial profits by buying in the first minutes after trading opened. In January 2024, analoS plummeted by 92%.

Don’t be trapped in new scams.

A group of fraudulent influencers is shilling $BALLZ, grifters who previously shilled $Analos.

They are dumping a small amount of $BALLZ on you every second.
Using bot buying to trend on Dexscreener & Birdeye.

Note ; those who are shilling this… pic.twitter.com/wTtgvg8pq4

— Vasu Crypto (∎, ∆) (@0x_Lens) March 11, 2024

The new meme coin BALLZ is available on the Raydium exchange. Over the past day, its trading volume has dropped by 51.30%. During the same period, its price has decreased by 36.1% and is currently $0.02326, according to CoinGecko.

In late February, another trader earned $225,000 from a token with minimal trading volume.