Solana Trader makes $550K on MOODENG

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Just over a week ago, Solana trader (Db3Pq) acquired 30,194,275 tokens of MOODENG, just as the memecoin made it out of pump.fun to Raydium. The MOODENG memecoin is named after a recently viral Thai pygmy hippo which has since become an internet sensation. They swapped 6 SOL ($815.28) for the transaction and simply waited. Today, the coin has steadily climbed to a market capitalization of just over $18M, quickly pushing their position to almost $550K, netting this trader a 670x return on his original investment.

This massive return is a classic example of the high-risk, high-reward nature of memecoin trading on the Solana network. The transition from pump.fun, a launchpad for new tokens, to a major decentralized exchange like Raydium is a critical moment. It's where a token gains wider visibility and liquidity, and traders who get in just before this "jump" can see exponential gains.

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Aside from MOODENG, Db3Pq also holds several other memecoins including 15M tokens of Soyjak (SOY), which he acquired for 49 SOL ($7,166) back in July. Their SOY position is currently up around 41% since. However, not all their trades went as well, with other tokens such as GRUG and RIZZ sitting in deep losses at the moment.

This trader's mixed results paint a realistic picture of the memecoin space. While the MOODENG trade was a spectacular win, the "deep losses" on other tokens are just as much a part of the experience. It underscores the extreme volatility and speculative nature of these assets, where one successful trade can cover the losses of many others.