Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Kid launches memecoin via Pump.fun and sells early, missing out on theoretical millions

Kid launches memecoin via Pump.fun and sells early, missing out on theoretical millions

The BlockThe Block2024/11/19 16:00
By:The Block

Quick Take A child launched a memecoin via Pump.fun and then sold their tokens early for a five-figure profit. However, the crypto community subsequently jumped on the token, temporarily sending it to a market cap of more than $100 million.

Kid launches memecoin via Pump.fun and sells early, missing out on theoretical millions image 0

A child who launched a Solana-based memecoin on Pump.fun early Wednesday sold all of their tokens at once while on a livestream for thousands of dollars.

They then had to watch as the tokens became worth millions.

The child in question sold their entire holdings in the token to make a five-figure profit, according to data from Pump.fun and the Solana blockchain explorer Solscan. They then went on to launch two further memecoins, again selling the tokens for five figures.

However, in response the crypto community “CTO’d” the original coin, sending it to a market cap of more than $100 million at one point today. (“CTO’d,” in the context of memecoins, implies that someone else in the crypto space is now "taking charge" of the token’s technical direction.) The community also doxxed people who they claimed to be members of the child's family, launching more memecoins associated with them via Pump.fun.

The creator's holdings would now theoretically be worth over $2.5 million at current prices, meaning they potentially missed out on millions of dollars by not retaining at least some of the tokens. However, if events had not transpired as they did, such a price surge may have been unlikely.

Meanwhile, another memecoin called Just a chill guy (ticker: CHILLGUY) is hot on the radar in the proverbial crypto trenches, having rapidly risen to a market cap of more than $300 million in just a few days. The social media meme turned Pump.fun-launched token is currently down to a market cap of around $215 million.

Memecoins have caught a speculative fever once again following pro-crypto Donald Trump’s election victory earlier this month, with major tokens like Dogwifhat and Pepe surging following Coinbase listings and VC-style memefunds, like the unaffiliated ai16z , hitting the headlines.

However, with memecoin activity still low compared to prior cycle peaks, the current divergence suggests retail enthusiasm hasn't fully re-entered the crypto space yet, according to crypto market intelligence platform IntoTheBlock.


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

241128: Bitcoin Pumps Above $97K, Then Dumps, as Ether, XRP Surge 7%

Bitcoin zoomed above $97,000, bringing hopes of breaching the landmark $100,000 level on social media, before paring gains to nearly $95,500 in Asian morning hours on Thursday. BTC added 3.3% in the past 24 hours, data shows, ahead of a Thanksgiving weekend that has historically recorded sudden pri

Bitget Academy2024/11/28 06:09

Attention is value, and AI Agents will continuously attract users and capital

To truly grow, AI entities cannot be limited to promoting meme coins.

Chaincatcher2024/11/28 05:00

Flash Thursday: Buy crypto with a credit/debit card for zero fees

Every Thursday, enjoy zero fees when using your local fiat currency with a credit or debit card ( Visa, Mastercard, Google Pay Apple Pay)! Buy Crypto Promotion period: Every Thursday 8:00 PM – Friday 8:00 PM (UTC+8) Promotion rules Sign up for a Bitget account or log in to your existing account. Na

Bitget Announcement2024/11/28 04:10