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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.
Key Notes
The fraudulent QUANT token was created by a teenager who live-streamed the rug pull, selling all tokens for 128 SOL, worth around $30,000.Despite the rug pull, the QUANT token rallied as the meme coin community drove its market capitalization to over $1 million.This happened amid massive meme coin frenzy in the market following the Donald Trump's victory in US presidential elections.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 $0.39 24h volatility: 1.5% Market cap: $57.45 B Vol. 24h: $13.43 B , Pepe Coin PEPE $0.000020 24h volatility: 1.1% Market cap: $8.50 B Vol. 24h: $5.42 B and Bonk BONK $0.000054 24h volatility: 3.7% Market cap: $4.08 B Vol. 24h: $3.58 B are all up by more than 100%.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
