Trader made $1 million on "cat" memcoin MICHI

As a rule, early investors sell new coins amid a growth spurt, but this investor chose a different strategy and kept memcoin in his portfolio. And, as it turned out, his strategy was successful.

A few days ago, the trader sold all the purchased coins on the market for $1.34 million USDC (at the time of the sale, the MICHI exchange rate was MICHI around $0.1557).

Recall that memcoin is a project that features a cat standing on its hind legs. The cryptocurrency was launched on the Solana blockchain.

Many investors paid attention to it after the meme with its hero was published by the famous American singer Ariana Grande. Thus, the investor was able to earn $1 million within a few months, which can be considered a decent result.

Now the memcoin sector has been showing growth over the past few months, unlike bitcoin and ETH. However, it is likely that some memcoins will lose their popularity in the market, while some lucky traders and investors earn millions of dollars on them literally in a couple of trading sessions.