A trader on the Solana blockchain has made significant profits from investing in the meme coin Moo Deng, which is based on a viral baby hippo in Thailand. The trader's investment of $800 grew to $10 million at its peak, but has since declined to around $3.8 million. Despite the fall in value, the trader has not sold any of their Moo Deng tokens due to the illiquid market and the potential for further price drops if they were to sell. The volatility of meme coins makes them unpredictable, and a copycat version of Moo Deng on Ethereum has gained attention after Ethereum co-founder Vitalik Buterin sold his holdings to fund charitable initiatives.



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