Haze, the founder of GMGN, invested $869.5 in the meme coin 'memes' during its early phase at a market valuation of $45,000. The investment briefly surged to an unrealized profit of $520,000 before a panic sell-off triggered by a controversial tweet led Haze to sell holdings at $3.83 million valuation, securing a profit of $72,900. However, the coin rebounded afterwards, reaching a valuation of $12.35 million, highlighting the high volatility risk of meme coins.