A cryptocurrency trader going by the handle Db3P gained notoriety for making $10 million out of just $800, but recently, his wealth fell dramatically. An on-chain analytics company called Arkham Intelligence claims that the trader lost a significant $5 million in unrealized profit. The trader's activities was detailed by the analytics platform in regular social media updates.

Db3P's Meteoric Rise with $MOODENG

Arkham Intelligence published a report on trader Db3P on September 17. Db3P invested $800 (or roughly 6 $SOL) on the recently minted meme coin $MOODENG. His holdings increased to $400,000 in less than a week, a stunning 500x return. Db3P decided to keep his tokens in tact rather than sell them, and as the token gained popularity on social media, his portfolio shot up to about $1.3 million on September 23 and doubled again by September 26, hitting $3.5 million.

Db3P's $MOODENG Rollercoaster

The culmination of $MOODENG's story was its appearance on Saturday Night Live, which caused Db3P's portfolio to soar to $10.2 million. He declined to sell his interests in spite of significant paper profits. But when the excitement subsided, the token's value crashed, leaving a whopping $5 million loss behind. According to Arkham Intelligence, Db3P's experience illustrates how rapidly huge gains can be followed by sharp drops in meme token values.