A crypto trader turned an $838 investment into more than $1 million by trading the community meme coin CASHCAT.
The massive on-chain gain sparked speculation that the wallet may belong to crypto YouTuber Brian Jung, who separately said he also made more than $1 million trading the token.
Trader Earns 1,183x Return on CASHCAT
Notably, the trader spent 0.49 ETH, worth about $838 at the time, to buy 15.04 million CASHCAT tokens. The trader later sold the position for 580 ETH, worth about $1.04 million.
The trade generated a profit of more than $1 million. That represents a 1,183x return on the initial investment.
Meanwhile, Lookonchain noted that the trader exited before the token reached its peak. If the position had been held longer, the unrealized profit would have risen to about $2.9 million.
The analytics platform also questioned whether the wallet belongs to Brian Jung. However, there is no on-chain confirmation linking the address to him.
Brian Jung Says He Cashed Out Over $1M
Around the same time, Jung posted on X that he had cashed out more than $1 million from CASHCAT.
He said holding the tokens longer could have produced “multiple seven figures” in additional gains. Still, he argued that traders should be satisfied with taking profits instead of dwelling on missed upside.
Jung added that the trade shows significant gains are still possible in the crypto market. He also shared a photo taken when CASHCAT’s market capitalization was around $100 million.
CASHCAT Rally Produces Multiple Million-Dollar Trades
Notably, CASHCAT is a community meme coin on Robinhood Chain, an Arbitrum Layer-2 network. The token has surged amid heavy trading activity and community excitement around the new chain.
The latest trade is one of several remarkable CASHCAT stories. On July 8, Lookonchain reported that another trader turned just $86 into $1.6 million, a 19,061x return. The trader bought 17.5 million CASHCAT tokens and sold part of the position for $390,500. The remaining holdings were still worth about $1.24 million.
In another widely shared example, a trader spent just 0.04 ETH, or about $68, to buy 20 million CASHCAT tokens. The trader sold the entire position for only $711, locking in a 10x return.
However, those same tokens would later have been worth an estimated $3.5 million. The case highlights both the enormous upside and the timing risks of fast-rising meme coins.