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- A trader purchased $85 worth of CashCat meme coin on Robinhood Chain in June. It is now worth more than $2 million.
- The trader made net profits of about $585,000 and still holds $1.6 million worth of CashCat.
- CashCat has soared to a market cap of over $130 million, jumping more than 1,230% in the past 24 hours.
A patient meme coin investor turned less than $100 into a small fortune in a new meme coin on Robinhood Chain, the new network. Ethereum Layer 2 network From brokerage and cryptocurrency exchange Robinhood.
User with Ethereum The address, which begins with “0xeEE2,” bought 0.05 ETH, or roughly $85, from CashCat on June 18, a few weeks before the company Officially announced the public launch Its main network. At the time, the purchase was good enough for about 17.4 million CashCat tokens.
Just over three weeks later, the dollar amount on paper had ballooned to over $2.3 million as the token exploded to a market cap of over $138 million at the time of writing, valuing each CashCat token at approximately $0.138.
This mark fell from the token’s all-time high above the market cap of $142 million, at which point the trader’s full balance would have been close to $2.5 million in CashCat tokens — representing a profit of roughly 3 million percent of his initial pool.
As the token surged, the trader behind the “0xeEE2” wallet was systematically separating his pool, dumping around 4 million CashCat tokens to make $585,000 in profits, according to on-chain. Analytics platform DEXScreener. Currently, the trader still holds a balance of 12.3 million CashCat tokens, worth around $1.6 million.
The meme’s recent bullish momentum has coincided with a sharper decline in the other hourly token – “The Black Bull”, which trades as ANSEM – Solana A token bearing the name of a prominent crypto trader and figure, Ansem.
The token, which has surged more than 190,000% in the last 13 days, has fallen more than 37% from its all-time high of $0.44 and a market cap of more than $400 million. It is now trading at $0.26, equivalent to $260 million in market capitalization, as meme traders rush into the new hot ball of liquidity on the Robinhood chain.
Trading activity on Robinhood Chain was spurred by Robinhood CEO Vlad Tenev himself, who Published on X Late yesterday: “While we’re building the Robinhood series to be the best series for (real-world assets)…it works great for memes too.”
Currently, at least two meme tokens on the emerging chain have found themselves among the top 20 tokens in terms of trading volume in the past 24 hours, according to DexScreener data.
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