A Solana memecoins trader turns $1.77 million into $23 million by strategically buying & selling hot Solana memecoins like BONK, WIF & BODEN.
A trader in meme coins cashed out millions of dollars in proceeds in Solana from multiple positions on meme-themed tokens.
Lookonchain, a firm that analyzes blockchain technology, identified the activities of a trader using the Solana Name Service account “paulo.sol” on April 26. Profits from meme tokens such as Dogwifhat (WIF), Jeo Boden (BODEN), and Bonk (BONK) were deposited into the cryptocurrency wallet.
The investor began trading BONK on November 11, 2023. Upon observing the memecoin’s ascent, the user purchased tokens. Swing transactions were then executed, with the trader purchasing at lows and selling at highs. By trading BONK, the trader earned approximately $6.28 million in total.
The trader concurrently observed WIF and BODEN. Upon the tokens’ initial release, the Solana meme coin bearer refrained from investing immediately.
Nevertheless, the trader commenced substantial purchasing when they initiated their initial upward swings. The trader commenced WIF purchases on December 4, 2023, and BODEN transactions on March 6. The trader achieved a cumulative profit of $9.51 million from WIF transactions and $7.04 million from BODEN transactions.
The trader earned $22.83 million by selling meme tokens based on Solana. At the time of writing, the crypto user still possesses $7.6 million in BODEN tokens and $5.7 million in WIF despite the trader having already amassed millions in profits.
In addition to these meme coin possessions, the trader has begun to invest in additional meme coins. The cryptocurrency wallet initiated the purchase of PUPS and POPCAT tokens.
The trader acquired the most prominent position on Solana by investing $1.77 million in POPCAT and nearly $6 million in PUPS.
Members of the community commended the trader for their audacious maneuvers. According to one X user, the speculator was not fortunate but had “more conviction” than others.
According to another user, the trader possessed “diamond” hands, which is a term used to characterize cryptocurrency traders who can maintain tokens under pressure.
Like numerous others, this speculator has successfully capitalized on the Solana memecoin frenzy. On December 29, a trader won a windfall of $2 million after investing only $62 in a meme token based on SOL. On April 3, as the memecoin frenzy persisted, another individual transformed $13,000 into $2 million in a single hour.