A crypto trader gained 1000% profit with AI16Z trading during its rally, but the Solana meme coin’s price dropped amid heavy selloff today.
After generating substantial profits for crypto trader, AI16Z, the foremost Solana memecoin, has achieved significant momentum.
The coin’s price has increased by approximately 430% over the past 30 days, surpassing a $2 billion market valuation.
In addition, a crypto trader achieved a 1000% profit by strategically cashing out during the peak rally, despite the precipitous decline in its price today.
Nabs 1000% Profit With AI16Z Trading: Crypto Trader
A crypto trader recently sold their entire holding of 2.27 million AI16Z tokens for $4.77 million, according to a recent Solscan report. By making this decision, the trader can generate an extraordinary profit of $4.47 million.
The recent spectacular growth of the coin and the confidence of investors are underscored by the strategic sell-off, which occurred for $2.1 per token.
The consistent performance and increasing market demand of the Solana meme coin have made it a popular topic among traders.
Nevertheless, the token’s value experienced a significant decline today as investors sought to secure profits, a phenomenon that is frequently observed in the case of popular meme tokens.
Nevertheless, the Solana meme coin’s remarkable rally has also sparked discussions about its potential to challenge industry leaders such as Dogecoin.
Additionally, investors’ increasing confidence in the coin is underscored by the recent whale transactions.
For context, a recent report revealed that a crypto titan placed a substantial wager on AI16Z, purchasing it for $4 million.
This purchase suggests that there is a persistent interest in the growth potential of AI16Z, despite the turbulent current market.
What Will Happen To Solana Meme Coin Next?
Today, the price of AI16Z was $2.03, a decrease of over 15%.
The market cap of the company remained above $2.21 billion, and its trading volume increased by approximately 55% to $459 million.
The crypto has reached a 24-hour peak of $2.46, which indicates that the token’s trading is highly volatile.
For the token, the Futures Open Interest was up by more than 42%, despite the recent decline, according to CoinGlass data.
This on-chain data suggests that the crypto may experience a recovery.
Although the Solana meme coin has demonstrated its capacity to generate exponential gains, its future is contingent upon the maintenance of market confidence.
The token’s substantial increase in value is indicative of its growing popularity among cryptocurrency traders;
however, the current profit-taking phase raises concerns regarding its long-term stability.
In other words, the price movement of the cryptocurrency has been significantly influenced by whale activity.
However, investors continue to be intrigued by the meme coin’s potential to sustain its upward trajectory.
