Trader Turns $2,800 into $320,000 with Explosive Meme Coin 

Author

Tim Hakki

Author

Tim Hakki

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Last updated:

August 20, 2024 00:11 EDT

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One lucky diamond-handed meme coin trader has unrealized profits of over 100X today after purchasing $2,800 worth of Reddit Dog (r/snoofi) tokens, now worth about $320,000.

X meme coin analyst Kakashi (@kkashi_yt) flagged up the hoard on Sunday.

By then the mysterious trader’s bag of 28,289,764.47 r/snoofi tokens had blown up to $245,000.

Despite the attention their wallet has received, this trader is in it for the long-HODL.

According to blockchain information, they’re still holding every Reddit Dog token and their stash is now worth a staggering $320,000.

Much about Reddit Dog remains unknown so curious investors are advised to tread with caution.

The Solana token launched on Sunday by a Reddit group, purporting to be a meme coin based on “Reddit’s dog” although a cursory Google search shows that “Snoofi” does not seem to be present before “R/Snoofi”.

A chart from the largest Reddit Dog trading pool on Raydium posts the token has bled about 25% overnight, however these losses are arguably due to a spot of profit taking.

The candles are following a shallow cup-and-ball pattern with the most recent price information curving up as if to climb another leg.

Still, investors should exercise extreme caution over this token as very little is known about it, and it may be a pump-and-dump scheme or scam.

Investors who want to support the growing meme coin sector can buy into some of the meme coin projects still only in pre-sale that are bringing new utility into the industry.

One project pioneering a unified staking protocol for meme coin fans is Crypto All-Stars, represented by the $STARS token.

Crypto-All Stars is a revolutionary staking platform that brings together the most celebrated meme coins in one place.

Holders of Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin can stake them on the platform and earn passive income in the form of $STARS with a rewards rate currently set at 2,648%.

The team has allocated 20% of the tokens for its presale. The other 25% is for presale staking, 20% for marketing, 10% CEX/DEX listing, and the rest 25% for the MemeVault Ecosystem.

This new meme coin project has gained so much popularity that its presale has already raised $572,550 since its launch last week.

Following the purchase, you can begin staking for rewards and claim the tokens once the presale ends.

So, if you are a meme coin holder who wishes to put your money to work, Crypto All-Stars is worth a look-in. Head to the website to buy $STARS with ETH, USDT, BNB, or even by card.

Follow them on social media – X (Twitter) | Telegram to stay up-to-date on all their development plans.

Join the Presale Here

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.