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Highlights
- A cryptocurrency trader has pulled in a 9,000X return on memecoin trading.
- A $239 gamble on the HOUSE memecoin has turned into $2.2 million.
- HOUSE surged to a new all-time high to reach $0.1055.
A degen crypto trader has pulled in the trade of a lifetime after racking up a 9,000x gain on a single memecoin. The surge in Solana-based memecoin HOUSE to reach an all-time high may have earned him an early retirement, but whispers of insider trading continue to linger.
Crypto Trader Racks 9,000X Gains With HOUSE
According to an X post by Lookonchain, a crypto trader has gained a staggering $2.2 million in profit from an initial investment of $239. Per the data, the unknown trader purchased 25.77 million HOUSE for $239 in four separate transactions a month ago, but a memecoin rally has seen the value of his holdings surge.
A month after his purchase, the Solana-based memecoin reached an all-time high of 0.1055%, sending the trader’s holdings to new highs. The mega rally saw his initial $239 clinch a valuation of $2.2 million, translating to a 9,228x return in a month.
Onchain data indicates that the crypto trader sold 1.91 million HOUSE for $58.8K as the earliest profit-taking play. Despite the spike in valuation, the crypto trader is still sitting on $2.15 million worth of HOUSE in a strong show of faith.
“A month ago, he bought 25.77M $HOUSE for only $239, sold 1.91M $HOUSE for $58.8K, and still holds 23.85M $HOUSE (2.15M),” said Lookonchain.
HOUSE has gained over 60% in the last 24 hours, with trading volumes surging to $53.09 million, a near 60% increase. The Solana-based memecoin’s rise comes amid Bitcoin and altcoins flashing bullish signals at the start of the week.
Speculation Of Insider Trading Continues To Linger?
Since purchasing HOUSE, on-chain data reveals that the trader’s activity levels have dropped to the lowest levels. Prior to the $239 purchase, the crypto trader purchased and sold around 10 memecoins per day, but trading activity came to a halt after the HOUSE accumulation.
Lookonchain describes the behavior as signals of a “retirement,” but a cross-section of the crypto community is pointing to insider activity. The long-term holding behaviour is sparking speculation that the crypto trader may be a project member or developer with knowledge of an incoming price pump
“He used to trade ~10 coins daily but has hardly traded after buying $HOUSE,” noted Lookonchain. “Early retirement?”
Previously, a group of crypto traders netted $666K from a single trade, stoking similar insider trading speculations. The trader raked in the profit with a meagre investment of $4.5K in the Base Is For Everyone token.
Memecoins are picking their way back up after Trump’s tariffs triggered a 50% decline for memecoin prices in early April.
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