Crypto Trader Nets Thousands of Dollars Trading New Meme Coin called Mundi

A crypto trader has made a profit of $435,000 from his initial investment of 1 $SOL ($169), representing a gain of 2,580x return.

A crypto trader has made a staggering profit of $435,000 from an initial investment of 1 SOL ($169), marking an incredible gain of 2,580x return on his investment. The trader achieved this remarkable feat by investing 1 SOL ($169) in an obscure meme coin called Mundi.

According to a report by on-chain analytics firm Lookonchain on December 1, 2024, the incident unfolded as follows:

The trader capitalized on the potential of a new meme coin called Banano (BAN), which was launched on October 25 and rapidly attained a market capitalization of $60 million within two days. However, rather than being driven by FOMO to purchase BAN, the investor identified another art meme token, Mundi, which had been launched prior to Banano and had a market cap of only $8,500 at the time.

The trader invested 1SOL ($169) to purchase 19.9 million Mundi tokens, which he then held onto. Four days ago, he began liquidating, selling 18.19 million Mundi coins for 1,428 SOL ($336,900). The trader still has 1.6 million Mundi tokens remaining, which are now valued at $99,000.

Mundi meme coin sees 115% gains in a day

The Salvator Mundi (MUNDI) meme coin is exhibiting a strong market rally despite having no clear use cases. The meme coin is currently up $115.94% in the last 24 hours and trades at $0.0167 as of 09.08 AM EAT time zone, according to CoinMarketcap.

MUNDI is becoming a favored investment instrument among beginner retail traders who are searching for the next big meme token. This comes as meme coins continue to make waves in the landscape of cryptocurrency, with several investors making incredible gains.

Meme coins are a unique type of cryptocurrency that is named after viral memes and internet culture. Tokens such as PEPE, DOGS, Dogecoin, and Shiba Inu have acquired massive popularity, attributed to the influence of social media and robust support from online communities.

Meme cons are quite different from traditional cryptocurrencies, as their prices are typically boosted by social excitement and viral promotion rather than strong technology. They are some of the riskiest instruments in the cryptocurrency world, with prices majorly driven by user sentiment and unpredictable volatility.