Additionally, the billionaire invested $1.2 million in Peanut the Squirrel. When Peanut the Squirrel's market value was $460 million, it was down -0.45%. At its peak, the token's market value exceeded $2.2 billion. He has recently invested in Pippin (PIPPIN), a new Solana meme currency with a market valuation of over $262 million. He invested $1.5 million to buy the token, and he has an unrealized profit of $600k.
Massive Crypto Returns
This whaledares to place large wagers and earn a profit. Earned $7.5M by investing in $WIF at a market value of $58M. Earned $$1.2M by investing in $PNUT at a $460M market cap. He purchased 6.71 million pippins 19 hours ago for $1.52 million, generating an unrealized profit of $570K.
The top Pippin investors have already profited millions. With a return on investment of 855%, the most successful investor has made $8.48 million. Three additional millionaires have earned more than $3 million in returns, while the other three have earned more than $4 million.
The WIF, PNUT, and PIPPIN millionaire mentioned above has already made other extremely lucrative deals, according to on-chain statistics. He earned $103 million in Chaos, $176,250 in MINI, and $1.12 million in Super Trump (TREMP). Tether, APY, Bongo, BIS, and ZOA are all part of his portfolio. He has made $10 million in realized earnings over the years.
Solana Meme Coins Growth
While it is true that meme coins have the potential to create billionaires, the process is sometimes quite risky, and insiders or traders who time the market precisely usually benefit from the enormous payouts. This is particularly true of Solana, which is still a popular option for meme currencies like Pippin because of its developer tools, low fees, and quick transactions.
Its ecosystem—which includes DeFi and NFTs—supports community development and liquidity, and its decentralization and scalability make it the perfect place for speculative enterprises to flourish. The market capitalization of Solana meme currencies has surpassed $16.6 billion, with Bonk, Pudgy Penguins, Dogwifhat, ai16z, and Fartcoin garnering the most attention lately. The total value of all meme coins exceeds $108 billion.
Pippin’s Price Surge
Although Pippin's price surged 13% following the report and was trading at $0.26, up more than 4,400% from its lowest point this week, there is still a chance that the token will experience a significant reversal, as most other Solana meme coins have done once the hype subsides. For instance, WIF fell 67% from its peak last year, and the price of ai16z has dropped from its peak this week.
The Method, which describes how asset prices increase and decrease, can be used to explain these collapses. The markup, which is marked by increased demand and FOMO (fear of missing out), comes after the accumulation period. During the distribution phase, smart money investors begin to get out, which causes a downturn during the markdown phase.
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