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Crypto Trader Nets Over 335,000% Profits on New Solana-Based Memecoin in Just Five Days: Lookonchain

October 18, 2024

A crypto whale is looking at a massive multi-million dollar gain on a Solana (SOL)-based memecoin after just five days.

According to on-chain data tracker Lookonchain, a deep-pocketed investor turned $727 worth of Goatseus Maximus (GOAT) into $2.44 million.

“This guy sold all 15.15 million GOAT [October 15th], turned five SOL ($727) into 15,883 SOL ($2.44 million) in just five days, a 3,176x return! Interestingly, he named himself ‘stupidmoney.sol’.”

Lookonchain also spotted another savvy investor who is looking at $2.8 million in profits after buying more than 10 million GOAT on October 11th.

“This smart money made $2.88 million (+3,360%) on GOAT… He spent 603 SOL ($86,000) to buy 10.7 million GOAT ($3.75 million at peak) six days ago and sold 0.7 million GOAT for 1,453 SOL ($222,000) [on October 17th], leaving 10 million GOAT ($2.74 million).”

The memecoin recently earned a listing on Gate, Crypto.com and HTX exchanges.

GOAT is trading for $0.2933 at time of writing, up 18.5% in the last 24 hours. With a current market cap of $291.7 million, GOAT is the 220th largest crypto project.

Pseudonymous analyst Altcoin Sherpa recently said that the market cap of Goatseus Maximus could soar more than 71% its current value.

“GOAT: $500 million [market cap] next in my opinion. Still holding a big bag of this and will consider taking a bit of profit there.”

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