Trader Makes $365,000 Profit from $684 Investment in Meme Coin
A trader recently experienced a windfall after turning a meager $684 investment in the obscure meme coin FartCoin ($FRTC) into a staggering $365,000 profit. The incredible trade was brought to light by crypto analyst Kakashi, who revealed that the trader cashed out $325,900 but still holds around $39,000 worth of FartCoin in their wallet. This translates to a net total profit of $364,881.31, representing a mind-boggling increase of over 53,000%.
FartCoin, which was launched on the Binance Smart Chain in 2023, follows the BEP-20 standard and has a maximum supply of one quadrillion tokens. The coin’s main attraction is that holders have a chance to win a daily jackpot of 50 $FRTC from the team. Approximately 30% of the token supply is held by the creator for software development tasks and games.
Although FartCoin reached an all-time high of $0.05102 on May 5, it has since depreciated by 87%. Currently, the token has seen a 2.6% price increase in the last 24 hours and is trading at $0.061314, according to CoinGecko. However, the overall meme coin sector has seen a 1.7% contraction in the past 24 hours, resulting in a collective market cap of $62.4 billion.
While FartCoin may be losing its appeal due to its lack of utility, a new meme coin called Flockerz ($FLOCK) has captured the attention of meme coin enthusiasts. Flockerz, which recently launched its presale and has raised nearly $1 million, offers investors various opportunities to earn rewards while maintaining the fun, volatility, and viral marketing associated with meme coins.
Dubbed “The People’s Meme Coin,” Flockerz allows holders of the token (referred to as “The $FLOCK”) to participate in a decentralized autonomous organization (DAO) called Flocktopia. In Flocktopia, token holders can propose and vote on governance and improvement measures, ensuring that decisions are made through community consensus rather than by a centralized authority.
A quarter of the 12 billion $FLOCK token supply is reserved for staking, with the protocol offering an impressive yield of 1,815% for tokens locked up over a two-year staking period. Flockerz is a transparent and fully audited project, providing investors with peace of mind. The project also has global ambitions, aiming for listings on both centralized and decentralized exchanges (CEXs and DEXs), similar to Bitcoin Cash. The vote-to-earn mechanism will be launched after the listings.
Investing in cryptocurrency is a high-risk endeavor, and this article is solely for informational purposes and does not constitute investment advice. There is a possibility of losing all invested capital.