despite of The current downward trend of the market, cryptocurrency traders are still finding ways to make life-changing gains. This is the case for some Solana meme coin dealers Who recently turned $6,400 into $8 million in 24 hours.
How Solana Meme Coin Traders Turned $6,400 into $8 Million
Lookonchain on-chain analytics platform She revealed on X (formerly Twitter) that these traders turned $6,400 into $8 million by investing in $TIM, which is Meme coin on Solana. Two newly created wallets reportedly used 44.78 to purchase $526.6 million (52,665 of the total token supply) within three minutes of launch.
TIM chart | Source: Tradingview.com
These wallets then moved their USD holdings (now worth around $8.28 million) to multiple addresses to avoid attracting attention. On-chain data shows that they are already looking to lock in their profits, as they have been selling their TIM tokens, albeit in small quantities, to avoid a market collapse.
Source: Etherscan
Meme coins (especially those on Solana) have continued to provide traders with significant gains, especially as Bitcoin and other major cryptocurrencies maintain a downward trend. Bitcoinest Previously mentioned A trader turned $1,800 into $11 million with Dogwifhat (WIF) by getting early access to the meme coin while it was still a small coin.
Meanwhile, more recently, he was a cryptocurrency trader with the pseudonym Larb von Trier mentioned To turn $353 into $8.3 million by investing in $KEYCAT, a Mimi coin on base. The second layer network (like Solana) has seen an influx of meme traders thanks to the barrage of meme coins that continue to be released onto the network daily.
More recent success stories
Lookonchain also recently revealed the trader it converted $9,770 to $10 million In just one day. The merchant spent 64.5 soles for He buys $97.36 million gummy (latest Meme coin based on Solana) in “the same block where the $GUMMY distributor added liquidity.” Another dealer I turned $110,000 to $48.72 million in just 3 hours by buying $MANEKI.
Related reading: US investment bank Morgan Stanley wants to add spot Bitcoin ETFs to 12 new funds
Although this merchant was not the first to buy Same angle, used $716 to acquire $1.02 billion of MANEKI (11.51% of the token supply) less than one minute after the token launch. Like $TIM traders, he distributed these $MANEKI tokens across different wallets to avoid attracting attention.
At the same time, it should be noted that there is an ugly side to the topic Same angle Trading, as some traders also recorded significant losses. One is the trader who newly Spend 1600 soles to buy COOL and that's it He sells The meme coin was worth 532.58 sol, losing 1,067.42 ($152,000) in the process.
SOL price trending at $123 | Source: SOLUSDT on Tradingview.com
Featured image from Medium, chart from Tradingview.com
