A crypto trader who invested $9K in an Ethereum (ETH) memecoin Apu Apustaja (APU) is now 693x richer in just one month after the token’s price blew off the roof.
The trader, who wishes to remain anonymous, made a courageous move in the midst of the crypto craze by investing in the memecoin, while other investors were building around established digital assets like Bitcoin and Ethereum.
APU token witnessed a remarkable surge in its price on April 11, propelling its market capitalization to nearly $200 million.
Blockchain analytics firm Lookonchain identified a trader’s move to invest in the memecoin before the recent price action.
The Transactions
On March 11, the trader executed four transactions, which accumulated approximately 8 billion APU tokens. Additionally, the crypto trader acquired another 300 million token through two separate purchases, one on March 13 and another on 24 on the same month.
The trader spent a total of 2.38 ETH, now worth approximately $8,300, on the memecoin. On April 11, the token saw an increase, reaching a high of $0.0007907, valued at approximately $6.5 million.
On April 12, the trader made six different transactions, transferring the funds to a separate crypto wallet, which could mean that the trader intended to move the assets to another wallet or has decided to sell the tokens through a peer-to-peer (P2P) transaction.
Some community members shared their speculations regarding the situation. An X user commended the asset-holder for still “holding,” while another user assumed the crypto wallet could belong to a developer.
Memecoin Millionaires
Meanwhile, On March 14, another trader purchased approximately 170 million Book of Meme (BOME) tokens, only to sell them for $131,000 before the price surged upward on the following day. The trader lost out on a potential $2 million gain based on the current market prices.
Interestingly, another memecoin trader gained from the frenzy, turning an initial investment of $13,000 into a whopping $2 million within just one hour. On April 3, the trader discovered a memecoin called Donotfomoew (MOEW) as it launched on decentralized exchanges (DEXs).
The trader spent a total of 4 ETH ($13,000) to purchase about 500 million MOEW, which became worth nearly $2 million after just an hour.