Trader Turns $1 Million Loss Into $2.5 Million Gain As Pippin Meme Coin Explodes
A crypto trader who bought a new meme coin by the name of Pippin (PIPPIN) was able to turn a $1 million loss into a $2.5 million unrealized profit. On-chain analytics platform Lookonchain said in a Jan. 10 X post that the trader initially made a loss when the meme coin plunged 90%. However, the trader opted to keep his holdings in the crypto instead of panic selling, which paid off in the end. Diamond-Hand Trader Benefits From Pippin Surge The trader bought PIPPIN around 2 months ago, according to Lookonchain, and spent 5,441 SOL, valued at approximately $1.15 million at the time, to purchase 20.46 million PIPPIN coins. Since the steep correction, the meme coin has entered into a rally as traders rushed to buy the crypto. Lookonchain noted that the meme coin’s market cap broke through the $180 million mark. As a result, the trader’s PIPPIN holdings are now valued at around $3.68 million, and the trader has achieved an unrealized gain of more than $2.5 million. The tra...