Solana News Today: Crypto Trader Scores 109x Return on TROLL Meme Token Investment

A crypto trader has turned an initial investment of $22,800 into $2.48 million by strategically buying and holding Solana-based meme token TROLL. The trader purchased 27.86 million tokens and later sold 1.28 million for $16,200, while the remaining 26.57 million tokens now have a market value of approximately $2.48 million, representing a return of over 109 times the initial capital [1].

TROLL has experienced a significant price surge over the past three and a half months, rising from approximately $0.01039 to $0.1039 at the time of reporting. This marked a 27.32% increase over the previous 24 hours. The token’s price action has been characterized by a steady upward movement from a low of $0.08205, with multiple short-term pullbacks that still formed higher lows, indicating strong buyer support. The price reached a peak near $0.104 and remained above $0.10 throughout the session [1].

Market data further highlights TROLL’s explosive growth, with a 24-hour trading volume of $21.11 million and a market capitalization of $103.85 million. The token’s price movement has been supported by growing buyer activity, particularly during U.S. morning trading hours, with consistent gains observed across multiple time intervals [1].

Prior to its recent rally, TROLL traded in a relatively sideways pattern between May and mid-July, with minimal volume and limited price movement. However, in late July, the token began to show signs of accumulation, with the price rising tenfold within a span of two weeks. The daily chart indicates a sharp upward trend, supported by increased trade volumes and buyer enthusiasm [1].

Trading activity on PumpSwap via the TROLL/SOL pair has also been notable. Over the past day, $11.5 million in trading volume was recorded, with $5.7 million in both buy and sell volumes, indicating a balanced and active market. The liquidity pool currently holds $3.3 million, and the token has seen over 16,813 total transactions, including 4,145 buy transactions and 2,501 sell transactions [1].

TROLL has emerged as one of the most actively traded meme tokens on Solana-based decentralized exchanges, with its market capitalization reaching $93.4 million and a Fully Diluted Valuation (FDV) of $93.5 million. This suggests that the majority of the token supply is already in circulation. Despite the rapid price appreciation, the token has shown signs of short-term correction following its steep rally, indicating potential volatility in the near term [1].

The trader’s ability to capture a 109x return underscores the potential for high rewards in the volatile crypto market, particularly in fast-moving meme tokens. The case of TROLL serves as a real-world example of the rapid capital appreciation possible in this asset class, driven by strong community interest and favorable on-chain metrics [1].

Source: [1] From $22.8K to $2.48M: Crypto Trader Scores 109x With TROLL as Price Hits $0.1039 (https://cryptonewsland.com/troll-crypto-trader-scores-109x-with-troll-as/)