Crypto Trader Turns SOL Memecoin Investment into Million-Dollar Profit
A crypto trader raked in millions trading a Solana (SOL)-based memecoin within weeks, reports the digital asset tracker Lookonchain.
After investing 3,100 SOL valued at $530,000 to acquire 12.08 million Jeo Boden (BODEN) shortly after its launch last month, the trader swiftly capitalized on the opportunity. Selling a total of 9.08 million BODEN on April 6th and 9th for 23,758 SOL worth $4.06 million, they pocketed a staggering 20,659 SOL ($3.53 million) in profit. Despite selling a portion, the trader still holds 3 million BODEN, now valued at almost $2.38 million with the memecoin trading at $0.793.
This successful endeavor marks over an 11x increase in profit from the initial trade last month. While BODEN experienced a 6% dip in the last 24 hours, it surged over 56% in the past week and a staggering 1,700% in the last month. SOL, trading at $170.18, saw a 3% decline in the past 24 hours and nearly 9% over the week, yet it rose by more than 15% in the last month.
Clever Robot News Desk 16th April 2024
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