Day after day, the cryptocurrency sector continues to astound us, particularly the meme coin market, which consistently startles investors with swift profits and substantial losses too. A trader managed to turn their initial investment of $1,513 into an impressive $295,000 by buying GORK, a recently debuted meme coin modeled after the widely recognized AI assistant on platform X.
According to on-chain transaction tracking service Lookonchain, the meme coin known as GORK has been generating a lot of buzz in the cryptocurrency world recently, thanks to a staggering price increase of almost 60,000% since its debut only 13 hours earlier.
In five hours, this investor successfully purchased shares of GORK at an opportune moment, resulting in a staggering 191-fold increase in profit.
— Lookonchain (@lookonchain) May 1, 2025
According to information from GMGN.AI’s on-chain data, a trader purchased the GORK meme coin through two separate transactions at prices of approximately 0.00022 USD and 0.0002 USD respectively, with a total expenditure of around 1513 USD.
Within an hour of making the purchase, the dealer began offering the tokens at various prices, successfully selling 3,860,000 tokens for a total of $132,700. Currently, they still possess 3,380,000 GORK tokens, which are valued at approximately $162,300.
Meme-based cryptocurrencies can exhibit sudden and significant price surges when they become popular. The substantial profits made by this trader serve as a reminder of the unpredictable nature of meme coins, capable of turning ordinary individuals into millionaires instantaneously while leaving some investors without any viable exit options, ultimately resulting in them losing their entire investment.
Currently, the digital asset GORK has surpassed 280,000 transactions and amassed a market capitalization of $37 million at the point of this writing. It’s also worth noting that it has achieved an impressive trading volume of $133.3 million, which is a notable achievement for a cryptocurrency that was recently introduced only hours ago.
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2025-05-01 13:55