A trader has made extraordinary profits from the recently launched Mubarak meme coin, turning a $232 investment into over $1.1 million in just two days. The token, based on the Binance Smart Chain, has gained massive attention following a significant investment by Binance founder Changpeng Zhao. This fueled a surge in trading activity, causing Mubarak’s market cap to skyrocket to $200 million within just 48 hours of launch.
The trader’s success story was highlighted by blockchain analytics platform LookonChain, revealing that they turned an initial 0.4 BNB ($232) into 576 BNB (approximately $363,500) by selling part of their holdings. Currently, the trader holds 5.16 million $MUBARAK tokens, valued at around $764,000, spread across three wallets.
The surge in Mubarak’s price, which recently hit $0.20, is partly attributed to its listing on Binance’s Alpha platform, resulting in heightened trading volumes. Additionally, the launch has sparked increased activity on the BNB Chain, pushing its native coin, BNB, to $630. Analysts suggest that this could mark the beginning of a sustained rally for both Mubarak and BNB, as the decentralized exchange volumes on BNB Chain now surpass those of Solana.
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