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ETH A memin investor turned less than $100 into small wealth
A savvy memin investor turned less than $100 into considerable wealth with a new memin on the new Ethereum secondary network launched by RobinHood Chain, the broker and cryptocurrency exchange Robin Hood. An Ethereum user whose address began with \"0xeEE2\" purchased a CashCat token of 0.05 ETH (approximately US$85) on June 18, a few weeks later, the company officially announced the launch of its main network. At the time, the deal was enough to exchange for approximately 17.4 million CashCat tokens.
In just over three weeks, as the market value of the token soared to more than $138 million (as of writing), the investor\'s book value has ballooned to more than $2.3 million, with each CashCat token worth approximately $0.138. Although this price is lower than the historical high of the token (market value of more than $142 million), if calculated at the peak, the total value of the CashCat token in the trader\'s hands will be close to $2.5 million-an increase of nearly 3 million times compared to the initial investment.
As the token rose, the trader behind the \"0xeEE2\" wallet has been systematically reducing his positions. According to data from the online analytics platform, he has sold approximately 4 million CashCat tokens, making a profit of US$585,000. Currently, the trader still holds 12.3 million CashCat tokens worth approximately US$1.6 million.
The rise in this new meme coin coincides with a sharp correction in another popular token,\"The Black Bull\"(trading code ANSEM). The token is named after well-known crypto figure and trader Ansem and is based on Solana. In the past 13 days, ANSEM has soared by more than 190,000%, but has now fallen by more than 37% from its historical high of US$0.44 (market value of more than US$400 million), and is now at US$0.26, with a market value of approximately US$260 million. Memin traders are flocking to the new liquidity hotspot on the Robin Hood Chain.
Trading activity on the Robin Hood Chain was promoted by Robin Hood CEO Vlad Tenev himself. He posted on social platforms yesterday: \"We are making Robin Hood Chain the blockchain that best suits real-world assets... but it is also very suitable for memin.\" Currently, according to data, there are at least two other memecoins in this emerging chain that rank among the top 20 in transaction volume in the past 24 hours.
