A Solana-based meme coin, $KITTY, has experienced a 6,000% price surge following the return of the influential figure known as @TheRoaringKitty. This price appreciation has resulted in two lucky traders making substantial profits, achieving returns of up to 49 times their initial investment in just one month.
According to data from Spot On Chain, a blockchain analytics platform, the two traders, identified by their wallet addresses “EPL15” and “7Jt9m,” have capitalized on the $KITTY price rally, transforming relatively modest investments into significant holdings.
Wallet “EPL15” Turns 14 SOL into 1,024 SOL
The first trader, using the wallet address “EPL15”, invested a total of 14 SOL (approximately $1,946) to purchase 14.67 million $KITTY tokens between March 31 and April 24.
As a result of the meme coin’s impressive price performance, the value of this trader’s $KITTY holdings has soared to 1,024 SOL, equivalent to $155,000. This represents an astonishing 73x return on their initial investment.
Wallet “7Jt9m” Achieves 49x Return, Amassing 1,470 SOL
The second trader, identified by the wallet address “7Jt9m”, invested a total of 30 SOL ($4,170) on April 1 and 3 to acquire 20.53 million $KITTY tokens.
Following the meme coin’s price surge, the value of this trader’s $KITTY holdings has reached an impressive 1,470 SOL, equivalent to $218,000. This remarkable growth represents a 49x return on their initial investment.
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Show more +Show less – The Roaring Kitty’s Influence on the Meme Coin Market
Experts attribute the price appreciation of $KITTY to the return of @TheRoaringKitty, a prominent figure in the meme coin community. The Roaring Kitty, known for their influence on meme stocks and cryptocurrencies, has a decent following and the ability to generate substantial hype around specific assets.
As news of The Roaring Kitty’s return spread, investors and traders likely rushed to acquire $KITTY tokens, anticipating a potential price surge. This increased demand, coupled with the limited supply of $KITTY tokens, likely contributed to the meme coin’s explosive growth.
While the success stories of the two traders who achieved substantial returns on their $KITTY investments are undoubtedly impressive, Spot On Chain warns against succumbing to the fear of missing out (FOMO) when trading, particularly during periods of steep price changes.
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