The crypto industry keeps surprising every day, especially the meme coin segment, which keeps shocking investors with quick gains and often huge losses as well. Recently, a trader transformed their mere capital of $1,513 into $295K by purchasing GORK, a recently launched meme coin inspired after the popular AI assistant on X.
Onchain transaction tracking platform Lookonchain noted this latest occurrence as the GORK meme coin becomes the talk of the town within the crypto community due to its mammoth surge of nearly 60,000% since its launch just 13 hours ago.
This trader bought GORK at the right time and has witnessed a whopping return of 191X in just 5 hours.
As per onchain data from GMGN.AI, the trader bought the GORK meme coin via two different transactions at prices of $0.00022 and $0.0002, respectively, while spending $1,513 in total.Â
Just an hour after their purchase, the trader started selling tokens at multiple price ranges, with them now having sold 3.86 million tokens for $132.7K and still holding 3.38 million GORK tokens, valued at $162.3K, as of now.
Meme coins tend to show quick and sharp spike gains while they are trending. This trader’s tremendous profit reminds how unpredictable meme coins are, which make millionaires overnight while some leave investors with zero exit windows, leading to all their investments becoming zero.
At the time of writing, GORK has exceeded a transaction count of over 280k while accumulating a market cap of $37 million. It has reached a trading volume of $133.3 million, a significant milestone for a crypto asset that was launched just hours ago.
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