A lucky crypto trader has turned an initial investment of $800 into a staggering $3.5 million, thanks to the meteoric rise of the Moo Deng meme coin.
The anonymous trader, identified by their Solana wallet address “Db3P,” purchased 6 SOL worth of Moo Deng just four hours after its launch on September 10th. This early bet has paid off handsomely, as the token’s value has skyrocketed to over $0.14 per token, representing a 56% increase in the past 24 hours.
While the trader’s identity remains a mystery, their incredible success has sparked speculation and accusations on Twitter. Some users have suggested that the trader might be an “insider” with prior knowledge of the coin’s potential, or even an undisclosed team member benefiting from the project’s success.
However, the ultimate test will come when the trader decides to cash out. If the coin’s value collapses following a large sell-off, it would cast doubt on its long-term sustainability and raise questions about its underlying value proposition.
For now, Moo Deng continues to ride the wave of the altcoin season, reaching a new all-time high price and boasting a market capitalization of $141 million.
