A trader invested $1,190 in Solana-based meme coin ZCAT seven days ago, according to GMGN on-chain data. After selling some tokens for $11,300, the remaining holdings show a floating profit of $473,800, achieving a 397x return. BlockBeats warns that meme coins often lack real-world use cases and are highly volatile, advising investors to exercise caution.
Per on-chain data from GMGN, one trader put a total of $1,190 into the Solana meme coin ZCAT over the last seven days. Since then, the trader has sold part of the holdings for $11,300, and the unsold position is sitting on a floating profit of $473,800. That works out to a 397x return on the original outlay.
BlockBeats is also reminding users of the obvious: meme coins usually do not have real-world use cases and can swing wildly in price. So, caution is advised when putting money into assets like these.
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