Crypto Dealer Turns $2,500 Into $500K on Skyrocketing Ethereum Meme Coin – Decrypt

A meme coin dealer turned 1 Ethereum (ETH) or round $2,455 into almost $500,000 on Thursday after buying and selling the surging Asteroid (ASTEROID) meme coin on the Ethereum community.

ASTEROID is up greater than 71,000% within the final 24 hours, leaping from a market cap under $100,000 to almost $19 million on the time of writing, based on information from DEXScreener.

The token, which relies on a Shiba Inu mascot named Asteroid, skyrocketed early on Friday following a social media put up from media persona Glenn Beck, which earned a reply from X proprietor and SpaceX and Tesla founder, Elon Musk. 

Beck’s put up highlighted the story of Liv Perrotto, a teenage woman who he mentioned maintained an inventory of questions for Musk, however handed away from most cancers in January with out the possibility to get them answered. 

Her ultimate query would have requested Musk if Asteroid, the Shiba Inu mascot she created to behave because the zero-g indicator for SpaceX’s Polaris Daybreak mission in 2024, may turn into the face of SpaceX. 

“Will reply shortly,” Musk mentioned in reply to Beck’s put up round 11:50 p.m. ET on Thursday. That put up has now garnered greater than 1.3 million views on X. 

Eight minutes later, an Ethereum handle ending with “EF99af” purchased 1 ETH price of ASTEROID tokens, first launched 19 month in the past on Ethereum. The purchase was ok for greater than 10 billion ASTEROID tokens. 

As renewed consideration bloomed round Perrotto and Asteroid with Musk’s reply, a large surge within the meme coin ensued, shortly making the dealer’s portfolio price almost $500,000. 

Presently, “EF99af” is the highest dealer on the token based on DEXScreener’s high merchants tab, locking in additional than $242,000 in earnings with gross sales whereas sustaining a stash of simply round $180,000 price of ASTEROID tokens. 

Two different merchants, “6E5Eae” and “9dE8db” each bought lower than $10,000 price of ASTEROID tokens, and have equally locked in additional than $150,000 in positive factors by way of gross sales. 

The token has generated greater than $43 million in 24-hour buying and selling quantity, making it the second most-traded meme coin throughout blockchains within the final 24 hours per DEXScreener. 

An ASTEROID token on Solana follows carefully behind, with extra $37 million in volumes over the identical interval.