How did a savvy trader make a 2 million profit on GameStop GME token

Key Points
A trader initially invested 12,110 SOL to purchase 135 million GME tokens, with a value of around $2 million.
The trader later sold 118 million GME tokens for $2.33 million, resulting in a profit of $618,000.
Ranked as the 4th largest GME holder, the trader’s transactions have a significant impact on market sentiment and future trading trends.
The cryptocurrency industry continues to grow and evolve, offering lucrative opportunities. One trader, using 12,110 SOL, managed to make over $2 million by trading a Solana-based meme coin known as GME.
Profitable Trade
As reported by LookonChain, a skilled trader initially acquired 135 million GME tokens for 12,110 SOL, equivalent to approximately $2 million. Each token was purchased for $0.0148, establishing the investor as the 4th largest holder of GME.
An individual who invested 12,110 SOL (worth $2 million) to purchase 135 million GME tokens in a single trade has successfully sold 118 million GME tokens for $2.33 million at a price of $0.01975 each. The trader currently retains 16.94 million GME tokens, valued at $288,000, resulting in a total profit of $618,000.
The trade took place on June 4, with the trader’s wallet linked to Coinbase and two other domains. This significant transaction underscores the potential for substantial rewards and risks associated with cryptocurrency investments.
Overall Earnings
The trader’s total profit from these transactions amounts to $618,000. It is important to note that the trader could have potentially made over $2 million at the peak of GME’s price surge. This underscores the volatile nature of the cryptocurrency market and the possibility of significant gains or losses.
By holding the position of the 4th largest GME holder, the trader’s actions have the power to influence market sentiment and shape future trading activities.