Meme coins continue to make waves in the market with their unpredictable nature, yielding massive gains for investors. A recent success story showcases an investor who turned a small investment into a multimillion-dollar windfall with a meme coin.

The investor, known as "waxl.eth," purchased MAGA (TRUMP) tokens worth $6,500 in late 2022 and now holds over $5.6 million, achieving an astonishing 870-fold gain! The investor bought 2.08 million TRUMP tokens through two wallets and sold 1.24 million, leaving 832,000 TRUMP tokens worth $4.7 million. The MAGA memecoin, centered around former US President Donald Trump, has a market value of $298.3 million and ranks 251st in market volume rankings.

The recent 50% price surge was triggered by Trump's statements supporting cryptocurrency during an event at Mar-a-Lago, where he announced accepting crypto donations for his presidential campaign. Another investor also made a significant profit of $4.4 million by purchasing hundreds of thousands of meme coins between December 2023 and January 2024. These events highlight the unpredictable nature of meme coins and their potential for significant price movements and investor profits.