Key Points
A crypto trader known as Larp von Trier reportedly turned a $353 investment into a whopping $8.3 million within six days.
The $8.3 Million Trade
The information was revealed by Lookonchain, an on-chain analytics platform.
According to a post on X (previously Twitter), von Trier invested in $KEYCAT, a meme coin on the Base layer-2 network.
At the time of his investment, the market cap of $KEYCAT was just $2,200.
With his $353, von Trier bought $1.3 billion worth of $KEYCAT tokens, equivalent to 13.16% of the token’s total supply.
He then sold 344.7 million $KEYCAT for 497 Ethereum (ETH), amounting to $1.75 million, through two of his wallets.
He still holds 971.2 million $KEYCAT tokens (9.71% of the token’s total supply) in six other wallets, which are currently estimated to be worth about $6.64 million.
Lookonchain also revealed that von Trier had previously had little success investing in meme coins.
Before $KEYCAT, he had invested in two other Base meme coins, $NORMIE and $NORMILIO, suffering losses of $820 and $9,700 respectively.
Reactions to von Trier’s profitable trade within the crypto community have been varied.
Some members have suggested insider trading, while others have praised his trading skills, given the risk associated with investing in a meme coin with such a small market cap.
Another recent story in the crypto world involves a meme coin trader who turned $1,800 into $11 million by investing in Dogwifhat (WIF) when it was trading below $0.2.
Unlike von Trier, this trader attempted to sell his holdings but was unable to do so.
As a result, he decided to hold onto his WIF tokens.
Meme coins continue to offer opportunities for crypto traders to make huge profits in a short time.
This is largely due to their volatility, which can see their value skyrocket in an instant.
Currently, Solana and Base appear to be the main chains for meme coin trading.
Base, in particular, has experienced a surge in transaction volume due to the meme coin frenzy.
