Summary
TLDR: A crypto trader turned $113,000 into $3.4 million by trading meme coins on Base network. The trader bought and sold Degen (DEGEN) for significant gains, with the value of DEGEN increasing by over 4,400% last month. Prominent investors are still acquiring DEGEN, and the shift from Solana to Base meme coins is gaining momentum. The community support and social media influence of meme coins offer financial opportunities, with Ethereum’s Vitalik Buterin supporting their potential for societal impact. Anatoly Yakovenko of Solana Labs criticizes using charity as justification for meme coins, advocating for impactful personal actions instead.
Key Points
1. A crypto trader turned $113,000 into $3.4 million by trading meme coins on the Base network, showcasing the lucrative potential of these coins for exceptional returns.
2. The trader initially invested in 38 Ethereum (ETH) worth $113,000 and bought 85.36 million Degen (DEGEN) using 31.6 ETH (~$108,000), eventually selling 72.73 million DEGEN for 2.83 million USDC and still holding 12.6 million DEGEN valued at $600,000.
3. DEGEN’s value surged by over 4,400% last month, attracting notable investors like a crypto whale who purchased 38.95 million DEGEN with 552 ETH (~$2 million), indicating ongoing market interest in meme coins on the Base network.