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CASHCAT Stories: From Overnight Millionaires to Missed Fortunes

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The cryptocurrency space frequently sees the creation of new hype-driven assets that bring immense joy to a handful of early adopters, or, in most cases, insiders.

The latest such sensation was CASHCAT – a highly speculative, community-driven meme coin built on the Robinhood Chain, the Ethereum Layer 2 network. It references an early piece of company lore, and current data from CoinGecko shows that it has exploded by over 3,200% in the past week.

Its market capitalization briefly tapped $200 million earlier after this spectacular rally, which led to the latest interesting stories in the community.

Lookonchain reported both. We will start with the successful one to keep up with the overall positive tone of this article. In it, someone spent only $838 worth of ETH to buy more than 15 million CASHCAT tokens before selling the entire stash for 580 ETH. They managed to lock in a profit of over $1 million.

However, the participant, who might be Brian Jung, according to some of his posts, didn’t make the most of the CASHCAT investment, as a few more days of diamond hands would have yielded an even more impressive profit of $2.9 million.

The second story is also successful, as it didn’t lose money, but the ‘what if’ question is a painful one here. Another user sold 20 million meme tokens for $711. Although that’s still a 10x return from the initial $69 investment, Lookonchain noted that if they had held for just a few more days, they would have been able to retire.

This is because CASHCAT exploded in the following hours and the initial investment of $69 would have rocketed to over $2.7 million. Nevertheless, realized profit is still profit, so let’s not feel too sorry for that investor.

Pranešimas CASHCAT Stories: From Overnight Millionaires to Missed Fortunes appeared first on CryptoPotato.

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