Trader Turns $1,749 to $10.9 Million with Solana Meme Coin: Here’s How

Lookonchain has called attention to another outstanding trader who transformed a barely $2,000 investment into a multi-million dollar fortune.

Per the recent disclosure, the trader attained this staggering success by trading the now-popular Solana-based meme coin Dogwifhat (WIF).

Lookonchain noted that the trader acquired 5.1 million WIF tokens in late November 2023, spending merely $1,749 on the purchases. 

A trader bought 5.1M $WIF with only a cost of $1,749 on Nov 30 and has held it to now, which is now worth $10.9M!

This trader tried to limit sell $WIF on #Jupiter, but the order was not filled due to the high limit price.

So he canceled the limit order and transferred $WIF to… pic.twitter.com/eCRkN8DZBU

— Lookonchain (@lookonchain) March 8, 2024

From $1,749 to $10.9M

The surveillance platform observed that the trader has held on to the WIF tokens since buying them. According to the report, the $1,749 meme coin portfolio exploded over the next three months to $10.9 million.

To put it differently, this trader’s gain amounts to over 630,000% return on investment (ROI) within 100 days, demonstrating the potential for massive gains in the crypto scene.

Furthermore, Lookonchain highlighted that the Solana meme coin trader has moved to offload the asset to capitalize on its gains.

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However, the trader encountered difficulties. His limit sell order failed to execute due to the high limit price. Consequently, he opted to cancel the limit order and transferred the WIF holdings to new wallets.

It is worth noting that the acquisition of the 5.1 million WIF tokens coincided with the period the token was launched. Popular market tracking resources like CoinMarketCap and CoinGecko have no data for WIF’s trading price until mid-December 2023.

As a result, WIF’s price performance from December until now is estimated at a 1,268.54% gain, surging from below $0.07 to over $2.3. Essentially, this percentage gain contrasts the smart trader’s over 6,300-fold increase.

Besides, CoinMarketCap recently spotlighted WIF among this cycle’s best-performing meme coins, having registered an incredible price jump. CoinMarketCap underscored that WIF moved by 116 steps to position 50 within ten days.

📊 CMC Ranking

Meme coins are on the move! 🏃$WIF and $FLOKI made incredible jumps. $PEPE & $BONK moved up stably while $SHIB & $DOGE held strong in the top 10!

Which one is your favorite? pic.twitter.com/I896d8u3dd

— CoinMarketCap (@CoinMarketCap) March 8, 2024

As a result, Dogwifhat is currently the best-performing meme coin, with established contenders like Shiba Inu (SHIB) and Dogecoin (Doge) trailing behind it. While WIF moved 116 steps, SHIB climbed eight steps. Meanwhile, DOGE only grew by one degree.

BONK is another meme coin on Solana that has engineered astonishing price performances over the past few months. BONK similarly moved 58 steps up the ranking of most valuable cryptocurrencies.

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• Source: https://thecryptobasic.com/2024/03/08/trader-turns-1749-to-10-9-million-with-solana-meme-coin-heres-how/?utm_source=rss&utm_medium=rss&utm_campaign=trader-turns-1749-to-10-9-million-with-solana-meme-coin-heres-how