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The Solana (SOL) memecoin frenzy continues as a dealer turns $226,000 into smartly over $1.6 million by way of playing on a token with a beanie-wearing canine as its mascot.
Between Dec. 13 and Dec. 15, a crypto dealer purchased over 19 million Dogwifhat (WIF) tokens, a dog-themed memecoin, because it debuted at the markets inside the Solana community. Consistent with blockchain analytics company Lookonchain, the dealer purchased the tokens at a median worth of $0.01137. These days, the tokens’ general price hovers at round $1.69 million, making the dealer about $1.47 million in income inside 5 days.
Because of the token $WIF, this dealer became $226K into $1.69M in 5 days.
This dealer purchased 19.86M $WIF between Dec 13 and 15 at a median worth of $0.01137.
The nineteen.86M $WIF is now value $1.69M, making ~$1.47M in 5 days.https://t.co/7QxZwvbzBA %.twitter.com/xsBBOivbhW
— Lookonchain (@lookonchain) December 18, 2023
As a brand new wave of pastime hit the Solana ecosystem, memecoins in line with the community have began to turn large positive factors. On Dec. 8, a dog-themed memecoin referred to as Bonk (BONK) was the third-largest memecoin by way of marketplace capitalization, becoming a member of fellow dog-themed memecoins Shiba Inu (SHIB) and Dogecoin (DOGE) within the best 3 and flipping Pepe (PEPE), a frog-themed meme token.
Bonk’s worth jumped by way of 370% within the 30 days resulting in Dec. 11, going from $0.0000028 to $0.00002 on the time of writing. The token outpaced the expansion of fellow canine memecoins SHIB and DOGE, which had a enlargement of 20% and 35% in the similar time frame.
Comparable: Dealer allegedly noticed over 5,000x positive factors after Ankr protocol hack
The hype surrounding Bonk additionally higher gross sales for Solana’s cell phone Saga. Since its release, Solana Saga telephone house owners won a 30 million airdrop of the memecoin. With the token worth emerging, customers grabbed the chance to learn by way of purchasing the telephone and promoting the tokens.
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