A crypto trader turned a $2,972 purchase of MEME (MEME) into a position worth more than $2.1 million within 12 hours, according to Lookonchain.
Key Points:
- A 21-day-old wallet bought 16.11 million MEME tokens after previously trading only eight tokens.
- The trader sold 750,000 tokens for about $85,300 but still held 15.36 million MEME worth roughly $2.03 million.
- MEME surged more than 3,100x in one day after a dispute between Robinhood and AMC Entertainment helped fuel the token's narrative.
MEME Wallet Trade
Lookonchain said the wallet, beginning with 0xc740, had been created 21 days earlier and had traded only eight tokens before this transaction. The trader then spent about $2,972 to buy 16.11 million MEME tokens, catching the move before the token's sharp rally accelerated.
Less than 12 hours later, the full position was valued above $2.1 million, giving the wallet a reported return of about 713x. The trader had already sold 750,000 tokens for roughly $85,300, leaving 15.36 million tokens in the wallet.
Those remaining tokens were worth about $2.03 million at the time of the report. Most of the headline gain therefore remained unrealized and could still rise or fall with MEME's price.
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Robinhood AMC Dispute
The token's rally followed criticism of Robinhood's tokenized-stock service from Adam Aron, CEO of AMC Entertainment. Aron called the arrangement “contemptible, outrageous, and disgusting” and said outside securities counsel was reviewing the matter.
Crypto users then reworked AMC into the phrase “A Meme Coin,” helping create the narrative around MEME on Robinhood Chain. GMGN data cited by Odaily showed the token rising more than 3,100x in a single day and pushing its market capitalization above $60 million.
Lookonchain described the trader as “so lucky,” a useful qualification for a return that depended on unusually early timing in a highly speculative market. Meme coins can move primarily on narratives and social-media attention, leaving later buyers exposed to rapid reversals when momentum fades.
The backdrop was already large before MEME appeared. Robinhood's stock-token DEX had passed $3 billion in trading volume across 63 days and offered tokenized exposure to more than 190 companies, including AMC, setting the stage for the dispute that MEME turned into a tradable meme.
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