Crypto
Meme Coin Rally Propels Trader to $2.1 Million in Just 12 Hours
A mysterious crypto trader has made headlines after turning a $2,972 investment in MEME tokens into a position worth over $2.1 million in just 12 hours.
The wallet, created 21 days ago, had previously traded only eight tokens before making the massive purchase of 16.11 million MEME tokens.
The trader sold 750,000 tokens for approximately $85,300, leaving 15.36 million tokens worth around $2.03 million in the wallet.
The surge in price was fueled by a dispute between Robinhood and AMC Entertainment, with crypto users reworking AMC into the phrase 'A Meme Coin' to create a narrative around MEME on Robinhood Chain.