Savvy

Solana

2024

Raydium

MEME

<p>The post <a href="https://coinpedia.org/news/trader-turns-8-5k-into-802k-in-one-hour-insider-tips-or-sheer-luck/" rel="noopener noreferrer nofollow">Trader Turns $8.5K into $802K in One Hour—Insider Tips or Sheer Luck?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>In the <a href="https://coinpedia.org/price-analysis/top-memecoins-to-stack-as-crypto-market-turns-bullish/" rel="noopener noreferrer nofollow">memecoin sector</a>, making a quick profit is nothing new. However, one trader’s recent success has sparked both admiration and suspicion. This trader turned an $8.5K investment into a massive $802.5K profit in just one hour by buying a Solana-based memecoin called “CTO.”&nbsp;</p>
<p>While some people say he had insider information, others think he’s just a savvy memecoin hunter.</p>
<h2 class="wp-block-heading" id="h-savvy-trader-made-802k-in-an-hour">Savvy Trader Made $802k In An Hour</h2>
<p>Leading Solana swap and AMM platform Raydium Protocol <a href="https://x.com/makenowmeme/status/1818564678815302148" rel="noopener noreferrer nofollow">recently introduced</a> a new MEME coin, CTO, on the MakeNow.Meme platform. After the launch, a savvy trader saw a golden opportunity and invested 50 SOL (about $8.5K) to acquire 256.8 million CTO tokens, becoming the third person to invest in the new coin, according to Lookonchain, a prominent blockchain analytical platform.</p>
<p>However, traders’s decision to invest in CTO memecoin paid off big. After a few times, he sold 227.67 million CTO tokens for 4,771 SOL (around $811K), making a stunning profit of 4,721 SOL, or $802.5K. This remarkable gain of 94x of his initial investment was achieved within just an hour.</p>
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   <p lang="en" dir="ltr">A trader made 4,721 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>($802.5K) on <a href="https://twitter.com/search?q=%24CTO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$CTO</a> in just 1 hour, a gain of 94x! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f631.png" alt="😱" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/RaydiumProtocol?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@RaydiumProtocol</a> launched a <a href="https://twitter.com/hashtag/MEMEcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#MEMEcoin</a> <a href="https://twitter.com/search?q=%24CTO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$CTO</a> on <a href="https://twitter.com/makenowmeme?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@makenowmeme</a> about 1 hour ago.<br><br>This trader spent 50 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>($8.5K) to buy 256.8M <a href="https://twitter.com/search?q=%24CTO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$CTO</a> and was the 3rd address to buy <a href="https://twitter.com/search?q=%24CTO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$CTO</a>.<br><br>He then sold 227.67M <a href="https://twitter.com/search?q=%24CTO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$CTO</a> for 4,771… <a href="https://t.co/rSKOTVknx7" rel="noopener noreferrer nofollow">pic.twitter.com/rSKOTVknx7</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1818903878588678406?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 1, 2024</a>
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<h2 class="wp-block-heading" id="h-a-history-of-success">A History of Success</h2>
<p>This trader is no stranger to making big profits. However, just 11 hours before the CTO trade, he made a successful trade with another coin, PFI. Meanwhile, by investing 20 SOL (about $3.4K), he earned 612 SOL ($104K), a 30x increase on his initial investment.</p>
<p>Some believe the trader might be just lucky with meme coins, while others suspect he could be an insider with special knowledge.&nbsp;</p>

Trader Turns $8.5K into $802K in One Hour—Insider Tips or Sheer Luck?

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