Trader Turns $100 Into $350K In 3 Hours

The owner of the dog which inspired the memecoin BONK announced in a Twitter post that she had adopted a new dog named “Pochita”, leading to a number of memecoins being launched by developers.

This incident highlights a common catalyst in the memecoin space, where real-world cultural moments or social media trends are immediately seized upon by developers to launch new tokens, often capitalizing on the existing hype.

Balltze (@Balltzhek)’s announcement led to the creation of several “Pochita” memecoins through pump.fun. Trader AjwF was one of the first buyers of the one of the prominent ones. He spent $138 worth of Solana and received 21.9 million Pochita tokens, which rapidly grew to a value of $350K in just 3 hours.

Such a rapid and astronomical return on a small initial investment is characteristic of the high-risk, high-reward nature of memecoin trading, where early entry can lead to significant, albeit volatile, paper gains.

At the time of his purchase, AjwF was the top holder of the Pochita token, holding 2.18% of the total supply. This is slightly more than the Raydium Pool 2, which held 2.13% of the supply.

That day, AjwF sold 30k of his Pochita tokens, worth around $450. In the meantime, he continued to gamble on pump.fun memecoins.

The next day AjwF split his holdings by sending 3 different wallets 7 million Pochita tokens each.

Some of AjwF’s other transactions can be viewed on Arkham here.