Lucky Meme Coin Investor Turns $138 Into $400K in 24 Hours
The Rise of the Pochita Meme Coin
A crypto user who spent $138 in Solana to purchase the Pochita meme coin has gained profits of over $400,000 in 24 hours. Inspired by the BONK token, Pochita entered the market on Thursday. It quickly garnered attention on Crypto Twitter, prompting its price to rally.
The anonymous lucky Pochita investor bought the meme coin two minutes after its launch on the popular token factory Pump.fun. Notably, he/she was the only person to have invested over $100 in the nascent digital asset.
Furthermore, the investor had purchased and sold two other Pochita tokens before investing in the big winner, whose market cap has now surged to $13 million, according to data from Dexscreener.
It is worth mentioning that the lucky investor has only sold $450 worth of Pochita tokens despite the massive gains. Their 2.97 million token holding makes them the largest holder, owning approximately 2.1% of the total supply.
“No! The Lucky Investor Isn’t an Insider,” Bubblemaps Claims
Meanwhile, blockchain analytics firm Bubblemaps says it did not find any on-chain connections between early Pochita buyers, meaning the meme coin isn’t controlled by insiders.
Still, small holders of this token are exposed to the risk of a significant price drop if the largest holder decides to dump their holding at once. That’s because Pochita lacks sufficient liquidity. Therefore, slippage issues are likely if selling intensifies.
Normally, when a market doesn’t have enough liquidity, large token holders opt to hold their coins, hoping that more people will be interested in the asset and inject funds into the liquidity pool to provide the required price stability for them to sell. This may be why the lucky Pochita investor has decided to hold their tokens despite the meme coin falling nearly 50% from its peak price of $0.034.
Another Meme Coin Investor Wins Big
The latest success story in the meme coin world comes six days after another investor who bought the Moo Deng token early turned $800 into over $7 million when the asset’s market cap peaked at $330 million. Like the Pochita investor, the Moo Deng investor is still holding their tokens, now valued at $3.2 million, following a sharp price drop.
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