The cryptocurrency community has turned around a young cryptocurrency trader’s rug pull by taking over the project and helping its market capitalization soar to over $80 million after they dumped their tokens on the market.

The young cryptocurrency trader created a token called Gen Z Quant, which trades unther the ticker $QUANT, on the Pump.fun platform during a livestream, and as soon as the price of the cryptocurrency started rising, he immediately sold all of his 51 million tokens for 128 SOL, then worth around $29,600.

Instead of allowing the cryptocurrency to collapse, the cryptocurrency community moved on QUANT, leading to bullish price action that saw the value of the digital asset pump by more than 900% in a couple of hours.

The pump means that if the trader had held onto their holdings instead of trying to rug pull the token, their stake would now be worth over $4 million. Despite the setback, the trader has since launched two new tokens, LUCY and SORRY, and rug pulled again to increase their gains by around $24,000, according to CryptoBriefing.

Various traders have managed to make millions off of more legitimate memecoin investments this year, adding to their appeal. One trader, identified on-chain by the alias “sundayfunday.sol,” turning a $72,000 investment into a staggering $30 million within just three days trading a little-known cryptocurrency.

As reported, a patient’ cryptocurrency trader has recently managed to turn around $8,600 into over $1.26 million after investing in a little-known cryptocurrency and holding onto it for two months to secure their gain of 144x.

The trader’s gains came after another cryptocurrency trader managed to turn 500 SOL tokens worth around $67.000 into 5,789 SOL worth over $780,000 in just 15 minutes after managing to “snipe” a large portion of a newly launched cryptocurrency’s supply.

There have also been other significant losses, with a Solana trader losing $37,000 while speculating on a memecoin over their emotional trading pattern. It’s worth noting memecoin are extremely speculative and volatile, and while stories of successful trades often surface, those of unsuccessful trades are often buried.

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