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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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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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