Crypto Investor Turns $1.3K into $3.4M

A cryptocurrency investor recently achieved an astounding 2,554x return on a $1,300 investment by purchasing Moo Deng (MOODENG), a memecoin themed around a hippo. This incredible gain has sparked discussions in the crypto community, raising both excitement and skepticism about the investment’s legitimacy.

On September 25, on-chain analytics firm Lookonchain identified the investor on the Solana blockchain who managed to turn their modest investment into a $3.4 million fortune in just two weeks. The data, sourced from Solana Blockchain explorer Solscan, reveals that on September 10, the trader used 9.8 Solana (SOL) tokens, valued at $1,331, to acquire 38.7 million MOODENG tokens.

Over the next 15 days, the value of the hippo-themed memecoin skyrocketed, resulting in a remarkable return for the investor.

Luck or Insider Trading?

While many in the crypto community are amazed by the trader’s success, others are more cautious. With a market liquidity of only $1.8 million, concerns arose about whether the investor could cash out their entire investment without affecting the token’s price significantly.

The rapid price surge has led to speculation about potential insider trading or involvement from a developer within the project. On the flip side, some crypto enthusiasts view the situation as a stroke of extraordinary luck, fueling hopes that they might experience similar success in future trades.

Adding to the intrigue, on September 26, Lookonchain identified another trader who made a 1,000x return in just 12 hours. The investor initially purchased $95 worth of INCEPT tokens, turning it into $96,900 in less than a day. However, Lookonchain noted that many wallet addresses associated with similar gains on INCEPT appear to be linked to insiders.

The Alternative: The Hodl Strategy

While some crypto traders chase high-risk altcoins for quick profits, others opt for the more traditional “hodl” strategy. One notable example is an investor who turned a $131.72 million profit by investing in Ether (ETH) during the 2022 bear market and holding it through volatile conditions.

According to Lookonchain, this investor purchased 96,639 ETH from Coinbase between September 3–4, 2022, when Ether was trading around $1,567. Their patience through market uncertainty paid off, showcasing how long-term strategies can be just as profitable as short-term memecoin wins.

Ultimately, whether through high-stakes altcoin investments or long-term holds, the crypto market continues to offer a wide array of opportunities for profit — though not without risk and controversy.