Solana memecoin trader, FlippingProfits, just turned $24,000 to $600,000, in just one day. His wallet, G5nxE, acquired 1.2% of the total supply of newly launched memecoin, gooncoin (GOONC), with ~$24K worth in SOL. At this point, gooncoin was beginning its runup, with a market capitalization of only $2M. Not long after, the token soared to $50M, where FlippingProfits began to sell off his holdings 5% at a time to realize a profit of $300K. At the point of sale, his remaining holdings were worth over $313K. Since then, the value of his remaining tokens have fallen to $132.22K.
Gooncoin launched as part of “Internet Capital Markets” meta, a narrative built around tokens on the Ben Pasternak’s Believe app, where tokens were used to represent on-chain companies or products as a proxy to bet on their success.
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