A trader was spotted on-chain flipping a $72,000 investment into over $30 million in just three days during the latest memecoin craze.
First reported by blockchain tracking firm Lookonchain, a trader using the “sundayfunday.sol” Solana (SOL) address made their massive profits buying and selling Book of Meme (BOME), a new memecoin launched on Solana last week.
After locking in $3.66 million in profits, the entity still has over $26 million worth of BOME left, according to Lookonchain.
“sundayfunday.sol turned $72,000 into $30.2 million in just 3 days on BOME!
sundayfunday.sol is the largest BOME pre-sale participant, spending 421 SOL ($72,000) to participate in the pre-sale of BOME and received 1.43 billion BOME ($30.6 million currently).
He sold 190 million BOME for 19,646 SOL ($3.66 million) to take profits… with 1.24 billion BOME( $26.57 million) left.”
During the same timeframe noted by Lookonchain, BOME was listed on several large crypto exchanges, including Binance and Kucoin.
Lookonchain also spotted an additional address making a 340x on their $19,000 investment.
“A BOME pre-sale participant sold all 347 million BOME for 34,647 SOL ($6.58 million), a gain of 340 times!
He spent only 102 SOL($19,000) to participate in the pre-sale and received 347 million BOME airdrop!”
While the two traders made incredible profits on their bets, others weren’t able to stomach holding BOME long enough to achieve the same exponential gains.
Lookonchain also reported a Solana address that sold their BOME coins for $131,000, when if they were to hold for about 48 more hours, they would have made $3.5 million. The red “S” in the chart below shows where the trader sold their BOME stack.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
