A cryptocurrency whale is hoping to make massive profits of millions of dollars from Solana (SOL)-based memecoin in just five days.
A deep-pocketed investor converted $727 worth of Goatseus Maximus (GOAT) into $2.44 million, according to on-chain data tracker Lookonchain.
“This person sold all 15.15 million GOATs (October 15th) and turned 5 SOL ($727) into 15,883 SOL ($2.44 million) in just 5 days, a 3,176x profit! Interestingly, he named himself ‘stupidmoney.sol’.”
Lookonchain also discovered another smart investor who is seeing a $2.8 million profit after purchasing over 10 million GOATs on October 11th.
“The smart money made $2.88 million (+3,360%) on GOAT… He bought 10.7 million GOAT (high $3.75 million) 6 days ago using 603 SOL ($86,000) and 700,000 GOAT for 1,453 “I sold it for SOL ($222,000) (October 17), leaving 10 million GOAT ($2.74 million),” he said.
Memecoin was recently listed on Gate, Crypto.com, and HTX exchanges.
GOAT is trading at $0.2933 at the time of writing, up 18.5% in the last 24 hours. With a current market capitalization of $291.7 million, GOAT is the 220th largest cryptocurrency project.
Pseudonymous analyst Altcoin Sherpa recently said that Goatseus Maximus’ market capitalization could soar by more than 71% of its current value.
“In my opinion, the GOAT: Next up is $500 million (market cap). “I’m still carrying a big bag of this and that and would consider taking some profits from that.”
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