A temecoin trader cashed out $6.28M trading BONK, $9.51M trading WIF, and $7.04M from BODEN Solana 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. Beamdog (WIF), Jeo Boden (BODEN), and Bonk (BONK) meme tokens generated profits for the cryptocurrency wallet.
On November 11, 2023, the trader initiated an investment in BONK. Upon observing the memecoin’s ascent, the user purchased tokens. Later, the trader executed swing transactions, which involved 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 memecoin 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 memecoins. The cryptocurrency wallet initiated the purchase of Pup (PUPS) and Popcat (POPCAT) tokens.
The trader acquired the most significant 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.
A second user remarked that the trader possessed “diamond” palms, an epithet for cryptocurrency traders who can maintain tokens despite external pressure.
Like numerous others, this speculator has successfully capitalized on the Solana memecoin frenzy. A trader won a windfall of $2 million on December 29 after investing only $62 in a meme token based on SOL. A further individual transformed $13,000 into $2 million in a single hour on April 3, as the memecoin frenzy persisted.
