Memecoin Trader Flipped $368 to $2 Million in 3 Days Trading this Coin

A memecoin trader made significant gains amid the market downtrend, demonstrating how volatile and unpredictable the crypto market is. Such crypto trading situations are widespread, with risk-takers profiting the most, as was the case with this trader.

Interestingly, he made $2 million in three days after just investing $368 in HIPPO memecoin. This major outcome has caught the attention of the market as participants try to figure out how it played out.

However, he is not the only individual who understands the market’s tricks and methods. Another cryptocurrency investor recently made $12.45 million in a similar token called Moo Deng, increasing interest in these meme-themed cryptocurrencies. Not only that but this year, several comparable meme tokens were in high demand due to their profitability.

Trader Cashed Out $2 Million With $368

Crypto traders face difficult circumstances every day in the crypto market, where it’s one thing to make millions, but it’s quite another to just sustain a profit. Nevertheless, in three days, this cryptocurrency trader made $2 million despite all the difficulties and market collapse. He picked the ideal time to invest in the recently released HIPPO Memecoin.

According to the report presented by Lookonchain, the trader, on September 30, spent 198 SUI, or $368, to purchase 253.5 million HIPPO. He did not hold the coin for very long, though. On October 2, he sold 119.6 million HIPPO for 175K $SUI, earning $325K. He still has 133.9 million HIPPO, valued at $1.7M, left over. His whole holding and selling value now stands at $2 million.

HIPPO Price Movement Today

HIPPO is based on the popular baby hippopotamus on the internet who lives in the Khao Kheow Open Zoo in Thailand. HIPPO just joined the market a few days ago, capitalizing on the growing popularity of the Moo Deng memecoin. Though there was a significant delay in its release due to the resignation of its developer, everything ended happily and the token quickly became popular among investors.

Meanwhile, the HIPPO memecoin has grown to a market valuation of $118.01 million and a trading volume of $5.27 million. Intriguingly, it is in its peak crypto trading days, changing hands at $0.01175 after a 37% increase in the last 24 hours.

Moreover, over 7.72K people now hold this coin, including the crypto trader who won $2 million. If the trend continues, this might become one of the greatest meme tokens to buy, outperforming Dogecoin, Shiba Inu, and other coins that have been slipping on the charts for a while.

Final Thoughts

The story of a crypto trader turning $368 into $2 million by investing in the HIPPO memecoin highlights the extreme volatility and potential for massive gains in the cryptocurrency market, especially with meme coins.

These highly speculative tokens, often driven by internet culture and community hype, can skyrocket in value rapidly, offering significant returns to those who time their investments perfectly. However, this unpredictability also underscores the inherent risk in the crypto space, where fortunes can be made or lost in a matter of days.

While the success of this trader—and others who profited similarly from meme tokens like Moo Deng—might attract more investors, it’s important to recognize the dangers of such speculative trading. Meme coins are notorious for their volatility and lack of intrinsic value, often driven by short-term hype rather than long-term fundamentals.

This can create a risky environment for investors, especially those hoping to replicate such extraordinary gains without fully understanding the associated risks. As the article suggests, while some meme coins may become profitable, sustainability and consistency in returns are far from guaranteed.