An early investor in the Solana-based meme coin ELON has achieved a 600x return on their initial investment. The investor, identified by the address 8nxf..., initially invested approximately $593 when ELON's market cap was just $17,600. This position has now grown to an unrealized profit of about $200,000 as the coin's market cap surged to $11 million. The investor previously sold nearly half of their holdings when the market cap reached $1.65 million, securing some early profits. They currently retain about 1.62% of ELON's circulating supply. The current price of ELON is around $0.011. Despite the impressive gains, BlockBeats cautions that meme coins like ELON are highly volatile and driven by market sentiment, lacking intrinsic value or use cases, posing significant risks to investors.