Trader Turns $72,000 into $30 Million in Memecoin Craze
A trader recently garnered attention in the crypto community for turning a $72,000 investment into over $30 million in just three days amid the latest memecoin frenzy.
The blockchain tracking firm Lookonchain first reported the astonishing feat, observing a trader operating under the Solana address “sundayfunday.sol” who amassed significant profits trading Book of Meme (BOME), a newly launched memecoin on the Solana network.
According to Lookonchain’s findings, the trader realized profits of $3.66 million after selling a portion of their BOME holdings, still retaining BOME tokens worth over $26 million.
In their report, Lookonchain highlighted the trader’s rapid success, stating, “sundayfunday.sol turned $72,000 into $30.2 million in just 3 days on BOME!”
During this period, BOME was listed on major exchanges such as Binance and Kucoin, further fueling the trading frenzy.
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Additionally, Lookonchain identified another address that achieved a staggering 340x return on their $19,000 investment, selling their BOME holdings for $6.58 million.
While these traders capitalized on the soaring value of BOME, not all investors were as fortunate. Lookonchain noted an instance where an address sold their BOME coins prematurely for $131,000, missing out on a potential $3.5 million profit had they waited just 48 more hours.
The chart provided by Lookonchain illustrates the missed opportunity, emphasizing the importance of timing in the volatile cryptocurrency market.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
