Unknown Trader Turns $1,031 Into $490,000 Following A Vitalik Buterin Tweet About A Mediterranean Town

An unknown trader turned 0.4 ETH ETH/USD, worth $1,031, into $490,000 by quickly buying a memecoin associated with a Vitalik Buterin tweet about Zuzalu, a Mediterranean city-turned-cryptocurrency experiment.

What Happened: Ethereum co-founder Vitalik Buterin’s reacted to a tweet about "Zuzalu," a pop-up city in the Mediterranean serving as a playground for cryptocurrency experiments. This reaction prompted the creation of an eponymous memecoin, which an unknown trader was quick to buy. His decision turned out to be prescient, as the memecoin went on a massive run, yielding the trader 490,000% gains:

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Why It Matters: Rags-to-riches stories are not uncommon in the cryptocurrency space, as the recent story of a trader turning $5,000 into $1.8 million with dogwifhat WIF shows. Cryptocurrency enthusiasts looking to emulate these trades should tread with caution, as particularly memecoins are known to be a breeding ground for rug pulls, a common cryptocurrency scam.

What's Next: At the time of writing, ZUZALU is up 1,071% in the last 24 hours. It remains to be seen whether it can repeat success stories such as that of Myro.

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