Crypto trader turns $135 into $124,000 in 2 weeks 
Cryptocurrency Sep 21, 2024 Share
Following the sudden surge in the value of the meme cryptocurrency First City in Mars (TERMINUS), a trader capitalized on the momentum to record a 920-fold return on their initial investment.
On-chain data indicates that the anonymous trader turned a $135 investment into a massive $124,000 in just two weeks, thanks to the explosive growth of TERMINUS, according to Lookonchain analysis in an X post on September 21.
Crypto trader’s returns in TERMINUS. Source: Dex Screener
The token, traded on Uniswap and paired with Ethereum (ETH), experienced an astronomical rise following speculative social media posts about Elon Musk’s future Mars colony.
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The buzz began when DogeDesigner, a popular crypto influencer, hinted that Musk might name the first city on Mars “Terminus.” The X post partly contributed to TERMINUS surging over 10,000% in a day.
According to the analysis, the investment first traded on September 8, when the trader purchased 3.4 million TERMINUS tokens via Uniswap. At the time of reporting the gains, the token’s value was hovering around $0.03589. This ballooned the trader’s investment to $124,300, resulting in a 920x return on their initial outlay.
Meanwhile, TERMINUS continues to record notable short-term gains, trading at $0.065 by press time, reflecting 24-hour gains of about 17,000%.
TERMINUS five-day price chart. Source: Dex Screener
Musk’s impact on TERMINUS
It’s worth noting that TERMINUS now joins the meme coins that have rallied after being associated with Musk. Notably, Dogecoin (DOGE) saw its value surge significantly thanks to Musk’s social media support.
However, it’s worth noting that Musk has not directly backed TERMINUS, but the association of the meme coin with his name seems to be working for now.
The TERMINUS momentum comes after Musk revealed his ambitious plan to build a city on Mars. According to the executive, the human city will likely take shape in the coming decades, starting with uncrewed Starship voyages in 2026.
Profiting from meme coins
On the other hand, the returns from investing in TERMINUS highlight the significance of perfect timing in meme coins, a strategy several successful traders have adopted.
Indeed, over the years, early investment and understanding when to take profits have worked for most investors in meme tokens. For instance, an investor turned $16,550 into $1.8 million after holding their position for about eight weeks in First Neiro (NEIRO), Finbold reported on September 17.
However, not all investments in meme coins turn out successful, considering their inherent volatile nature, with some investors recording notable losses for betting on tokens with no proven fundamentals.
In summary, although investing in meme coins can be lucrative, thorough research is needed before putting money into any token, considering the historical volatility and lack of significant use cases.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.