Trader earns $100k after investing in Solana memecoin

As crypto edges higher, a trader recently bagged $100K from a $1K investment on a Solana-based meme coin.

Looking ahead, analysts are bullish on Meme Kombat, Grok, and Myro.

Pseudonymous trader nets $100k from a $1k investment

A pseudonymous trader,Blockgraze, recently explained how a $1k investment in Solana’s newest meme coin turned into $100K.

The resurgence of meme coins has been noteworthy, with Solana’s leading meme coin, Bonk, listing at Coinbase and pumping by 105% in the last day.

Blockgraze bought Dogwifhat (WIF) meme coin in late November.

The trader sunk $1,000 but admits it was purely for the amusement of buying a meme coin featuring a dog wearing a hat.

Later on, the trader went on to liquidate his holdings, earning $100,000.

Looking ahead, Dogwithhat will unlikely pump. As such, traders must explore alternatives.

There are several considerations to make, mainly regarding market sentiment and viral potential.

In this quest, analysts have picked out Meme Kombat, Grok, and Myro.

Meme Kombat

Meme Kombat is a blend between GambleFi utility token and meme coin.

Its presale has so far raised over $3.2 million.

Meme Kombat lets users stake on AI-powered battles between popular meme coin characters.

MK is key to this, and holders who stake receive rewards.

Moreover, the project can find adoption since community members from the different meme coins may participate and support their favorite character.

It also has an augmented battle arena, enabling users to watch the fights up close. Moreover, various battle modes are available. To provide a fair and realistic experience, Meme Kombat has incorporated traditional odds mechanics.

Grok 

Grok is a dystopian meme coin based on Elon Musk’s latest venture of the AI language model named Grok.

Given its relation to Elon, the meme coin rose alongside Dogecoin and other Elon-related meme coins. However, its relative newness could see it rally on a larger scale.

Furthermore, Grok indirectly benefits when Musk tweets about his new AI model since they share the same name. 

The project has a website with a user interface, offering crypto news, a “Meme Vault,” and insights into Grok’s key information.

It currently has a $72 million fully diluted market cap after launching one month ago.

Grok have been trending lower since late November but has since found support.

Myro

Myro is a project named after Solana co-founder Raj Gokal’s dog, Myro.

However, while Bonk holds a $1.7 billion market cap, Myro is at just $30 million.

Myro is up 3.1% in the past day and 720% in December.

However, it has had a pullback from its Dec. 8 all-time high.

The Myro community often refers to it as the Shiba Inu of Solana due to its utility and expanding ecosystem. 

The meme coin has a trading bot, Myro Buy.

This enables users to snipe trending coin on Solana much faster than buying through a DEX.

According to its website, Myro also plans to introduce staking and more utilities in the future.