GMGN Founder Misses Nearly $450,000 in Profits After Failing to Take Gains at Highs Following Purchase of "memes"

Odaily News: GMGN founder Haze invested $869.5 into the meme coin "memes" during its private sale phase when its market cap was $45,000. His unrealized profit later surged to as high as $520,000. However, possibly influenced by He Yi deleting a related post, panic selling ensued in the market for this meme coin. Haze sold his entire position during this period at an average price corresponding to a market cap of $3.83 million, realizing a profit of $72,900. Notably, the token subsequently rebounded again. As of press time, its market cap is reported at $12.35 million.

Odaily reminds users that meme coin prices are highly volatile; investors are advised to participate with caution.