One crypto trader was able to turn an $800 investment into $7.5 million through his investment into the Moo Deng memecoin. The anonymous trader whose Solana wallet address starts with "Db3P" brought 6 Sol worth of the new memecoin just four hours after the token was launched; today, his initial investment is now worth millions.
The gains were first spotted by crypto publication Decrypt, as investors welcome the memecoin "supercycle". The "super cycle" is an annual season where memecoins are getting the most attention from the community.
It is also during this season where there will be a surge of purchases in memecoins, resulting in the surge in prices of the various memecoins.
After peaking in price towards the end of September, Moo Deng saw its price retreat before rallying once again on Monday.
The sudden spike in Moo Deng prices also comes after Ethereum co-founder Vitalik Buterin sold 10 billion Moo Deng worth more than $800,000 and donated a portion to an anti-airborne-disease charity. After selling the token for 308.69 ETH, he donated 260 ETH of the proceeds to the charity funds.
Vitalik later wrote in a post thanking the Moo Deng team and explaining that all these tokens that were donated to him will go into charity. He also stressed that the best thing for memecoins is if they can be maximally positive-sum for the world.
A simple mention by the Ethereum co-founder has caused the Moo Deng token to surge nearly 400% in less than 24 hours.
Moo Deng is currently trading about $0.11 per token, as of Coingecko.
Recently, Moo Deng has also shown more of her sassy side to the internet. Just one month ago, the internet had gone crazy over a short clip that featured Moo Deng nibbling and pushing his caretaking during one of their interactions.
This, of course, isn't the first time Moo Deng acted out. There are also many other videos of her either stomping about, nipping her handler, or fighting her bath time.Although there are people who have criticized the playful creature, there are also many who have called her sassiness part of her unique charm.
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