While everyone is still crazy about Solana-based joke coins, one crypto trader made a lot of money by turning $226,000 into over $1.6 million in just five days.
The user tried Dogwifhat (WIF), a new meme coin on the Solana network with a dog theme. This person bought more than 19 million WIF tokens at an average price of $0.01137 from December 13th to December 15th. Right now, these tokens are worth about $1.69 million, which means you made a profit of about $1.47 million.
Meme coins linked to the Solana network have made a lot of money thanks to this rise in interest in the environment. A dog-themed meme coin called Bonk (BONK) became the third-largest meme coin by market value on December 8th.
Thanks to the token $WIF, this trader turned $226K into $1.69M in 5 days.
— Lookonchain (@lookonchain) December 18, 2023
This trader bought 19.86M $WIF between Dec 13 and 15 at an average price of $0.01137.
The 19.86M $WIF is now worth $1.69M, making ~$1.47M in 5 days.https://t.co/7QxZwvbzBA pic.twitter.com/xsBBOivbhW
It joined popular meme coins with dog themes like Shiba Inu and Dogecoin. Its market price was higher than that of Pepecoin, a meme coin with a frog theme.
In the 30 days before December 11, the price of Bonk went from $0.0000028 to $0.00002, a huge 370% rise. During the same time period, this growth was faster than that of other dog joke coins like SHIB and DOGE, which grew by 20% and 35%, respectively.
The rise in fame of Bonk had an interesting side effect: it made more people want to buy Solana’s Saga cell phone. As soon as the Solana Saga phone came out, 30 million Bonk were given to users who had it. To make money, users bought the phone and then sold the tokens they got, taking advantage of the rising token price.
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