TROLL (TROLL) has witnessed a remarkable surge, rising 210% over the past week. The appreciation has pushed the coin to an all-time high.
This significant price movement has proven to be particularly lucrative for one trader, who made an astonishing 109x return on their initial investment.
TROLL Meme Coin Hits All-Time High
For context, TROLL is a meme coin built on the Solana (SOL) blockchain. The coin is inspired by the popular internet ‘troll’ culture. According to the latest data, approximately 998.98 million tokens are in circulation.
While it launched 3.5 months ago, the meme coin’s price activity has been relatively subdued. However, the trend shifted dramatically from late July, as TROLL started to experience a series of back-to-back surges. This rally culminated in an all-time high of $0.106 as of yesterday, marking a milestone for the coin.
Over the past week alone, TROLL’s price has seena 210% uptick. At the time of writing, the Solana-based meme coin traded at $0.093.
Additionally, with this rise, the token’s market cap also crossed $100 million, before adjusting to $93 million at press time.
“From a long, boring base to a vertical send this is how conviction plays reward the patient. Volume’s up, and market cap’s pushing for new ATH. Next stop? Price discovery,” an analyst posted.
Supporting this bullish trend, data from Solscan revealed an uptick in trading activity. The total DEX trading volume and token transfers have reached new highs, signaling a growing level of investor interest and engagement.
At press time, TROLL had 28,836 holders, with the top 10 controlling 16.1% of the circulating supply.
The surge in TROLL’s price has not only sparked significant attention across the crypto community but has also proven to be exceptionally profitable for some traders. Lookonchain reported that a trader spent $22,800 to acquire 27.86 million TROLL three months ago.
The trader then sold 1.28 million TROLL for around $16,200, locking in a portion of their gains. Despite the sale, the trader still holds 26.57 million TROLL. Moreover, the holdings are now worth approximately $2.48 million.
“From $22,800 to $2.48 million in just 3.5 months — a 109x return!. With TROLL’s recent surge, his position has flipped over 100x — nearly $2.48 million in profit!” the post read.
The TROLL rally comes amid a broader bull run in the meme coin market. The total market capitalization has increased by around 3% over the past hours to $72 billion. Furthermore, meme coin activity on the Solana blockchain has also jumped.
Data from Dune Analytics showed that the total cumulative tokens launched daily have been rising steadily.
LetsBonk primarily drives this activity, controlling 60% of the market share. This shift follows a decline in the dominance of Pump.Fun, which previously dominated meme coin activity on Solana.
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