Trading meme coins on decentralized exchanges has become a favorite pastime for crypto investors, and one lucky Ethereum trader is the latest to turn into a millionaire doing this. The Ethereum trader was able to trade a mere $135 into more than $1.2 million in a matter of days. How? By buying an Elon Musk-inspired meme coin very early and holding it even after reaching the six-figure mark.
The Genesis Of The Terminus Meme Coin
On September 20, popular Dogecoin designer, known as DogeDesigner on X (formerly Twitter), took to the social media platform to share an interesting tidbit about Elon Musk’s continuous space exploration efforts. Keying into the discussions around the first space colony, DogeDesigner revealed that Elon Musk had said that the first city on Mars could be named “Terminus.”
The first city on Mars could be named ‘Terminus’.
一 Elon Musk
— DogeDesigner (@cb_doge) September 20, 2024
The tweet quickly spread across the crypto community, garnering over 90,000 views, and it wasn’t long before the meme coins started popping up. However, one meme coin named “TERMINUS” on the Ethereum network quickly surpassed the rest. In less than two weeks, the market cap rose to over $3.5 million, and with it came an interesting story.
According to the on-chain data tracking platform, Lookonchain, a wallet spent $135 buying the TERMINUS meme coin very early on after it launched previously on September 8. When the market cap moved above $3.5 million as a result of the hype created by the DogeDesigner post, the meager $135 initial investment had turned to more than $124,000.
Despite the already impressive 920x return, the Ethereum trader refused to sell, preferring to hold onto their tokens, and this would pay off big time. The TERMINUS meme coin continued to see upside and by the fourth day, the market cap had crossed $35 million, essentially delivering another 1,000% gain on the already impressive return.
The wallet had bought 3.46 million TERMINUS tokens, and at $35 million market cap, the initial $135 investment had become $1.2 million. This means that the Ethereum trader was able to turn $135 into $1.2 million in only 15 days, an impressive feat by any standard.
From $3.5M to $35M market cap, $TERMINUS is up 10x since our post! #TERMINUS #FirstCityinMars
The lucky individual turned $135 into over $1.2M in just 15 days, a 9,000x return!
He spent only $135 to buy 3.46M $TERMINUS on Sept 8, now worth over $1.2M!https://t.co/sYe2cCC8PZ pic.twitter.com/set39Yr1c2
— Lookonchain (@lookonchain) September 23, 2024
The success of the TERMINUS token is just another in a long line of meme coins that have been successful due to the fact they were based on words associated with billionaire Elon Musk. Another notable example is the Grok meme coin, named after X’s artificial intelligence (AI) launched by billionaire Elon Musk. The meme coin had risen as high as $290 million before retracing to around $31 million, where it currently sits.
