11,543x Return on New Solana Meme Coin: But You Must Know This First
2024-09-29

One of the most incredible returns in the cryptocurrency world is revealed by a recent on-chain report. A user paid just 6 SOL (roughly $815) for 30.1 million MOODENG tokens 17 days ago. With an 11,543x return on investment, those tokens are reportedly worth a whooping $9.4 million today.
Despite the allure and excitement of such tales, it is important to look past the figures. Meme coins in general function similarly to casinos, attracting a lot of risk-on investors. Similar to gambling, the vast majority of people lose money while a small percentage walk away with enormous profits.
Source: LookOnChain
Approximately 10% of investors may experience gradual gains in conventional investments like the stock market. However, the odds are much worse in the meme coin market. A mere 1% of meme coin investors generate profits, and a much smaller percentage — less than 0.01% — realize gains of this kind.
It is critical to realize that insider information, speculation and hype are the main forces behind meme coins. A lot of investors who make enormous profits typically have access to insider knowledge or are connected to the teams behind the development of these coins. These people frequently purchase coins at an early stage even before the general public is aware of them or they may profit from techniques that ordinary retail investors are not able to use.
Investing wisely is not like winning the lottery for the average trader or investor; instead, they hope to cash in on the next meme coin and receive a 10,000x return. This area requires that you proceed very carefully. Although news like this generates a lot of excitement, the majority of meme coin market participants lose money on their investments.