Record $1.29M in two days on meme token FAI

Lookonchain analysts reported an anonymous trader who earned $1.28 million on the meme token FAI in two days. On November 27, the trader invested 4.2 ETH (approximately $15,300) to purchase 253.63 million FAI.

Over the next 48 hours, the trader partially sold their assets — 91.8 million FAI tokens for 106.2 ETH (around $384,000), keeping 161.8 million tokens worth $911,000 in their wallet. Thus, the trader’s total profit (including unrealized assets) amounted to $1.28 million.

Trend or risk?

This case is far from unique. In September, an unknown investor put $815 into SOL, acquiring 30.1 million MOODENG meme coins. Within 17 days, the value of their holdings skyrocketed to $9.4 million. In October, another trader managed to turn $727 into $2.42 million in just four days by successfully investing in the GOAT token.

Why are meme cryptocurrencies risky?

Despite the impressive numbers, meme-based cryptocurrencies raise concerns among experts. Billionaire Mark Cuban warns that such assets often hide risky rug pull schemes, where token creators suddenly withdraw liquidity, leaving investors with losses.