A crypto trader earned nearly $1 million within three hours by investing 2 SOL, worth $460, in the Solana-based meme coin Quant (QUANT), achieving an extraordinary 2,141x return.
Amid the current crypto market frenzy, a crypto trader made massive gains of close to $1 million by trading the Solana-based scam meme coin Quant [NC], which turned out to be a rug pull.
As a result, the trader made a staggering 2,100x return within just three hours of trading this meme coin. As per the blockchain intelligence platform Lookonchain, the trader made an initial investment of just 2 SOL tokens, worth around $460. It mentioned:
“This guy made $988K with only 2 $SOL($462) in just 3 hours, a 2,141x return! He spent 2 $SOL($462) to buy 18.89M $Quant and sold 3.71M $Quant for 116 $SOL($27K), leaving 15.18M $Quant($962K).”
The Quant (QUANT) meme coin was created over the popular Solana meme coin launchpad Pump.fun. However, it later turned into a fraudulent cryptocurrency later on due to the rug pull activities.
Despite their reputation for extreme volatility and limited fundamental utility, meme coins like QUANT continue to draw traders looking for rapid profits. Stories of traders achieving massive returns through meme coins are not rare.
For instance, in May, a Pepe (PEPE) investor transformed $3,000 into $46 million within a month by capitalizing on the explosive rally of the frog-themed token.
Quant Meme Coin Trader Mints 2100x
A wallet identified as “Fi2h,” created the QUANT meme coin, which later turned out to be a fraudulent project. A teenager orchestrated this rug pull by live-streaming the process of selling all their tokens, according to a November 20 post by Lookonchain on X. The blockchain analytics platform noted:
“A kid created a coin $Quant while live-streaming and sold all of it for 128 $SOL($30K), making a profit of $29.6K! The 51M $Quant he sold is now worth $4M! He then created $lucy and $sorry, selling all of them for another profit of 103 $SOL($24K)!”
Despite the teenager’s attempt to execute a rug pull and drain liquidity, the QUANT meme coin defied expectations by continuing to rally. In response to the live-streamed fraud, the meme coin community banded together, driving the token’s market capitalization to exceed $1 million, according to GeckoTerminal data.
The meme coin market has been on a massive rally following Donald Trump‘s victory earlier this month in November. On the monthly chart, top players like Dogecoin DOGE $0.18 24h volatility: 2.4% Market cap: $26.11 B Vol. 24h: $1.02 B , Pepe Coin PEPE $0.000009 24h volatility: 0.7% Market cap: $3.73 B Vol. 24h: $487.49 M and Bonk BONK $0.000020 24h volatility: 0.2% Market cap: $1.57 B Vol. 24h: $302.86 M are all up by more than 100%.
next