A trader hit the jackpot by making a $6 million profit from an $8,000 investment in Ethereum Memecoin.

On-chain data indicates that an Ethereum trader moved their tokens to a different digital currency wallet. The trader initially invested $8,300 into a frog-themed memecoin a month ago and this investment saw a whopping 750-fold increase in value. The value of this meme-based cryptocurrency, named Apu Apustaja (APU), experienced a major spike on April 11, taking its market capitalization to almost $200 million. In March, the trader had made multiple transactions, amassing billions of APU tokens. These tokens were worth roughly $6.5 million at their price peak on April 11. However, on April 12 the trader moved their tokens to another wallet, suggesting a possible decision to sell them. The trader’s actions sparked discussion within the community, with commendations for holding onto the tokens and suggestions that the wallet may be owned by a developer. This scenario underscores the potential ups and downs within the memecoin market, as some traders sell their investments too soon and miss out on more substantial profits.