Trader Turns $100 Into $350K In 3 Hours

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The owner of the dog which inspired the memecoin BONK announced in a Twitter post that she had adopted a new dog named “Pochita”, leading to a number of memecoins being launched by developers.

This incident highlights a common catalyst in the memecoin space, where real-world cultural moments or social media trends are immediately seized upon by developers to launch new tokens, often capitalizing on the existing hype.

Balltze (@Balltzhek)’s announcement led to the creation of several “Pochita” memecoins through pump.fun. Trader AjwF was one of the first buyers of the one of the prominent ones. He spent $138 worth of Solana and received 21.9 million Pochita tokens, which rapidly grew to a value of $350K in just 3 hours.

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Such a rapid and astronomical return on a small initial investment is characteristic of the high-risk, high-reward nature of memecoin trading, where early entry can lead to significant, albeit volatile, paper gains.

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At the time of his purchase, AjwF was the top holder of the Pochita token, holding 2.18% of the total supply. This is slightly more than the Raydium Pool 2, which held 2.13% of the supply.

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That day, AjwF sold 30k of his Pochita tokens, worth around $450. In the meantime, he continued to gamble on pump.fun memecoins.

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The next day AjwF split his holdings by sending 3 different wallets 7 million Pochita tokens each.

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Some of AjwF’s other transactions can be viewed on Arkham here.