An anonymous crypto trader has achieved a staggering return by turning a $3,500 investment into $7.9 million in only three days, thanks to a meme coin on the Binance Smart Chain (BSC).
According to Lookonchain, the trader purchased 19.8 million tokens of a project called 币安人生 (Binance Life) when its market capitalization was below $100,000. Within three days, the token’s price skyrocketed, allowing the trader to sell just 1.3 million tokens for significant profits while retaining 18.5 million tokens, becoming the largest holder of the asset.
Fellow Traders Also Benefit
Another investor, known as LaserCat397.eth, also profited from Binance Life. They acquired 6.8 million tokens for 3 BNB and later sold part of their holdings for 2.96 BNB, keeping 6 million tokens worth roughly $2.12 million.
LaserCat397.eth also invested 160 BNB (~$159,000) into another meme token called GIGGLE. By partially selling their holdings for $55,000, they kept 7,030 GIGGLE tokens, now valued at approximately $922,600, generating a combined profit of around $818,000 from both projects.
Missed Opportunities
Not all traders were as lucky. One investor sold 22.1 million Binance Life tokens for just $23,000, an hour before the token surged. Those same assets later soared in value to over $10 million, illustrating the high-risk, high-reward nature of meme coins.
Why Meme Coins Matter
Meme coins have become a notable trend in the crypto world, particularly on BSC, where low market caps and social hype can create extreme short-term gains. While they offer extraordinary profit potential, they also carry significant risks, as illustrated by missed opportunities and volatile price swings.
For investors, careful research and timing are critical when navigating the meme coin market.
