A crypto trader became a millionaire within just one hour of placing the trade. Venmo founder Sam Lessin launched the Jelly My Jelly meme coin, which quickly gained investors’ attention and pushed its price to new highs. As a result, the early JellyJelly adopters received heavy returns, one of whom is an anonymous trader who’s worth a million today. Let’s discuss.
JellyJelly Coin Hit $150M Market Cap Within 1 Hour
Like most trending meme coins, Sam Lessin launched its Jelly My Jelly coin on pump.fun. This launch is part of his Jelly Jelly app and community-building in the crypto market. Interestingly, theis decisions worked, as the JellyJelly caught crypto investors’ attention almost immediately, reaching a market capitalization of $150M within an hour of the launch.
Moreover, its price jumped from $0.0600 to $0.2600 in this period, taking on a highly bullish momentum. However, this did not last long, and the price consolidated over time. It currently trades at $0.1581 with a marketing capitalization of $160M and $1B in trading volume per CoinGecko.
Interestingly, the Venmo developers bought 17.99 M, or 1.79% of the token’s total supply, generating around $4.048M in profits per ai_9684xtpa. However, the Venmo founder claims that he does not own any of the tokens.
Regardless, amid all this launch and chaos, one crypto trader stood out. That person turned a $1K investment into $1M within one hour.
How This Crypto Trader Made 1000x Returns?
A smart crypto investor identified the opportunity right after the JellyJelly meme coin launch. This began with the trader spending $1,592 to buy $18.3M tokens in four transactions, but the same turned into millions with the price surge. Out of this, the crypto trader sold 16.1M Jelly My Jelly coin for $956,200. More importantly, the trader is keeping 2.2M tokens, making them an unrealized profit of another $347,820 per current price.
Overall, the trader has earned more than a million from the investment. The biggest reason behind this is the trader’s ability to benefit from the rapid volatility of the JellyJelly token, which favored the price surge. Moreover, the crypto user made a smart bet with a low amount but invested early and sold at prime.
This is a great example of the market’s profitable behavior, but volatility should not be ignored. Interestingly, many other crypto investors also made significant returns on the Venmo founder’s Solana meme coin.
A live steamer also benefits with 200x returns within two hours. Apart from this, another crypto trader has more than $600k in unrealized profits, and the list continues.
What’s Next For Jelly My Jelly Coin?
As the token is new to the market, there’s significant hype around it. More importantly, its association with Venmo founder Sam Lessin has brought it great attention, resulting in a billion-dollar trading volume. At present, the Jelly My Jelly meme coin is going through a consolidation phase. However, the continuity of investor demand could further fuel its price. As a result, investors should conduct further research to determine the outcome, especially concerning the Bitcoin price rally.
The post Venmo Founder Lessin’s JellyJelly Turns Crypto Trader Into Millionaire in 1 Hour appeared first on CoinGape.
