Crypto Trader Rakes in $1.6 Million in Just One Hour with BSC Meme Coin

Meme coin trading has surged across multiple networks, with Solana-based coins leading the charge. However, the BSC network has also witnessed significant interest, exemplified by a crypto trader's $1.6 million profit from trading the Big Pump (PUMP) token within an hour.

Crypto Trader Bags $1.6 Million Windfall in One Hour with BSC-Based Meme Coin

The cryptocurrency market has witnessed a surge in meme coin trading, with traders reaping substantial profits. Among the most dominant meme coins are those based on the Solana network, but the Binance Smart Chain (BSC) network has also emerged as a contender, attracting increased interest. One trader recently made a staggering $1.6 million within an hour by trading a meme coin on BSC.

Capitalizing on the PUMP Hype

The specific meme coin that fueled the trader's windfall was Big Pump (PUMP), which launched on the BSC blockchain on March 25. Riding the wave of hype surrounding the token launch, a BNB whale, a large cryptocurrency holder, invested 6,000 BNB, worth $3.48 million at the time of purchase, to acquire 375.4 billion PUMP tokens.

Rapid Price Appreciation

As the price of PUMP surged in the subsequent hour, the whale's holdings experienced a meteoric rise, surpassing $5 million in value. Capitalizing on this price appreciation, the trader executed a series of transactions, selling 360.4 billion PUMP tokens for a total of $5.08 million. Subtracting the initial investment, the trader pocketed a $1.6 million profit from this single sale.

Whale's Subsequent Transactions

According to data from Lookonchain, a blockchain analytics platform, the trader initially retained a balance of 15 billion PUMP tokens. However, the trader subsequently sold an additional 5 billion tokens, leaving a current balance of 10 billion tokens, valued at $122,624 at PUMP's current trading price.

Meme Coins Dominate Market

Meme coins have taken the cryptocurrency market by storm in the ongoing bull cycle, delivering impressive gains for a number of coins in this category. The revival of the meme coin movement by the PEPE coin was further fueled by Solana-based meme coins such as BONK and WIF, both of which have achieved billion-dollar valuations within a year.

Emerging Meme Coins

As the bull market progresses, several other meme coins have caught the attention of traders. One notable example is Book of Meme (BOME), which secured a Binance listing and surpassed $1 billion in market capitalization within a single day. Others, such as SLERF, have also exhibited remarkable growth, achieving over $200 million in market capitalization in one day. The BSC-based PUMP token, featured in this article, also crossed the $50 million market cap on its first day, indicating a growing appetite for meme coins across various blockchain networks.

Conclusion

The cryptocurrency market has presented a lucrative opportunity for traders, with meme coins emerging as a major force in the ongoing bull cycle. The $1.6 million profit made by a trader in a single hour through BSC-based meme coin trading highlights the potential rewards available in this sector. As the market continues to evolve, meme coins are likely to remain a focal point of interest for traders seeking substantial gains.