A Solana (SOL)-based cryptocurrency trader has seen their investment in the memecoin 114514 grow from $321 into a multimillion-dollar position in just 11 days.
On-chain data shows the trader, identified by the wallet address starting with 8BGiMZ, began accumulating 114514 roughly nine to eleven days ago using small, staggered swaps from wrapped SOL, according to insights from Lookonchain retrieved by Finbold on January 6.
Individual purchases ranged from less than $1 to about $57 per transaction, indicating a deliberate accumulation strategy rather than a single high-conviction bet.
In total, the wallet spent approximately 0.85 SOL, valued at around $321 at the time, to acquire roughly 45.58 million tokens.
As a result of the price spike, the trader’s holdings were valued between $2.1 million and $2.8 million at peak levels, depending on intraday price fluctuations.
Even using the more conservative valuation of $2.18 million, the trade represents an extraordinary return of roughly 6,800 times the initial capital in less than two weeks.
Trader’s position reduction
On-chain data shows the wallet has not meaningfully reduced its position, suggesting most gains remain unrealized. With liquidity below $1 million, the token carries significant volatility and exit risk, yet it has still attracted heavy retail participation.
At the time of accumulation, 114514 was trading at fractions of a cent with minimal market attention. That changed rapidly as liquidity and trading volume surged.
Notably, rooted in Japanese internet culture, 114514 surged 992% over the past 24 hours, pushing its market capitalization to roughly $16.8 million as trading volume climbed above $16 million.
The move marks one of the sharpest short-term rallies among Solana-based meme coins, fueled by renewed retail interest and viral attention tied to the long-standing 114514 meme across Japanese and Chinese online communities. By press time, the token was trading at $0.01194.
Featured image via Shutterstock
Leave a Reply
You must be logged in to post a comment.