News - Memecoin trader becomes millionaire in two weeks with $450

By Mike Hesp

Memecoin trader becomes millionaire in two weeks with $450

Avalanche (AVAX)
Price update

A trader makes a profit of 4,287x in two weeks with a new memecoin on Avalanche. And become a millionaire with $450.

A new memecoin is making the rounds - and making investors rich. At least one: This trader turned $450 into a profit of more than $2 million. The memecoin is a newcomer to the Avalanche blockchain, the Coq Inu token. This reports Coindesk.

The token was launched on Dec. 8, 2023, meaning the trader made a 4,287-fold profit in two weeks.

So far, he has made about $1.5 million in profit.

The Coq Inu team points out that memecoin is only "for entertainment purposes." It has no use and no roadmap.

The price of Avalanche has been rising for weeks, by nearly 90 percent in the past 30 days alone.

Memecoins are considered an extremely risky investment. Some skyrocket, but most collapse at some point. The majority can probably be categorized as scams.

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