Trader strikes gold with $6 million return on $8,000 investment in Ethereum memecoin

A trader who invested $8,300 in a memecoin called Apu Apustaja (APU) a month ago has seen their investment multiply 750 times as the token’s price skyrocketed. On April 11, the price surge caused the market capitalization of APU to reach nearly $200 million. Blockchain analytics firm Lookonchain had previously flagged the trader’s move to invest in APU a month before its recent price action. The trader made a total of six transactions, accumulating around eight billion APU tokens. They spent 2.38 ETH on the memecoin, which is currently worth about $8,300. The tokens are now valued at around $6.5 million. On April 12, the trader transferred the funds to a different crypto wallet, possibly indicating a desire to move it or sell the tokens through a peer-to-peer transaction. Other traders have missed out on potential gains by quickly cashing in on their investments. For example, a trader who purchased 170 million Book of Meme (BOME) tokens sold them for $131,000 before the price surged, missing out on a potential $2 million gain. Conversely, another trader turned $13,000 into $2 million in just one hour by investing in the memecoin Donotfomoew (MOEW).