On-chain data from blockchain analytics platform Lookonchain reveals a crypto trader, identified by wallet address 8BGiMZ, transformed a $321 investment into over $2.18 million in just 11 days, achieving a staggering 6,800x return. The profits were generated through early accumulation of a Solana-based memecoin with the ticker 114514.
The trader executed a series of small swaps, spending a total of 0.11 ETH (approximately $321) to acquire roughly 45.58 million tokens of the memecoin over several days. On-chain activity shows the accumulation occurred well before a dramatic price surge. Following a period of flat trading, the token's price exploded by nearly 700% in 24 hours, driven by rising buying pressure, with trading volume climbing above $20 million and liquidity expanding rapidly.
At the time of reporting, the trader's holdings were valued at approximately $2.18 million. On-chain records indicated no large outbound transfers, suggesting the position remained largely intact and unsold.
The event coincides with a broader resurgence in the memecoin sector. After declining to historic lows of just over 3% of the total altcoin market by December 2025, memecoin dominance has sharply reversed. The sector's total market capitalization has climbed back above $50 billion, with tokens like PEPE, BONK, and FLOKI leading double-digit gains. Analysts note the rebound is fueled by returning risk appetite, rising volume, and new factors like the introduction of leveraged memecoin ETFs, which extend exposure beyond crypto-native traders.
