An investor turned the $848 spent on KIMCHI into approximately $282,000 within two hours, counting both sales and the value of the tokens still held.
According to transactions shared by on-chain data platform Lookonchain, the investor bought 9.91 million KIMCHI for 8 SOL. At the time of the purchase, that amount was worth just $848.
Over the next two hours, the investor sold about half of the tokens, earning far more than the initial amount spent. The sale of 4.88 million KIMCHI brought in 1,045 SOL, or approximately $111,000.
A significant portion of the gains is still in the wallet
After the sale, 5.03 million KIMCHI remained in the wallet. At prices at the time of the post, the remaining tokens were worth approximately $171,000.
Thus, the sale proceeds and the value of the tokens still held totaled approximately $282,000, about 332 times the initial investment. Of that amount, $111,000 was converted to SOL through the sale, while the remaining $171,000 reflects the market value of the unsold KIMCHI.
Although the investor more than recouped the initial investment by selling nearly half the tokens, the value of the amount remaining in the wallet continues to fluctuate with the price of KIMCHI.
Not investment advice.