Story Highlights
A Solana trader turned 1.6 ETH into 770 ETH ($1.77 million) in 12 minutes by buying Dogwifhat tokens early.
Another trader turned 18 SOL into 7,197 SOL (400x gain) by buying FartCaster tokens at launch.
The Solana ecosystem itself saw its value surge, with SOL’s price climbing from $88.32 to $105.86 in a week.
When we say the crypto world is a crazy place, we really mean it. While one must be wary of the volatile nature, it’s often believers strike gold here too.
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In the most recent update, Solana trader recently achieved a remarkable feat, turning a small investment of 1.6 ETH into a staggering 770 ETH, equivalent to an astonishing $1.77 million, all within a mere 12 minutes. This extraordinary success not only left the crypto community in awe but also highlighted the trader’s exceptional skills
Strategy and Profits!
According to prominent on-chain tracking platform Lookonchain, 12 new wallets, believed to be “insiders,” made a big profit of 770 ETH, which is worth a lot – $1.77 million. They did this by putting in only 1.6 ETH, around $3,694, into a token named
Dogwifhat
.
In just 5 hours, this trader made 7,197
$SOL
($703K) with only 18
$SOL
($1,758), a gain of 400x!
The trader spent 18
$SOL
to buy 55.1B
#FartCaster
(55.1% of the total supply) in the same block where the deployer opened trading for
#FartCaster
.
He then sold 53.94B
#FartCaster
for…
pic.twitter.com/BrVYltUYBh
— Lookonchain (@lookonchain)
February 4, 2024
This all started when these wallets made smart buys at the same time the deployer opened trading. This got other people excited, and they quickly joined in, hoping to catch the rising trend.
Lookonchain revealed that the 12 wallets initially acquired 24 million Dogwifhat tokens with their 1.6 ETH investment. After selling 15.34 million, they reaped a total of 771.86 ETH, translating to a staggering $1.78 million. Presently, these wallets retain 8.65 million WIF, valued at $838,000, highlighting the lasting success of their tactical move.
Even though
WIF’s price dropped
by 7.42% in the last 24 hours to $0.2174, it’s still way higher than its lowest point on December 13, 2023, with a massive increase of 14,287.04%.
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A Modest Investment, Huge Returns
In another crypto success story, a trader armed with a modest investment of 18 SOL, valued at around $1,758, executed a shrewd trade, yielding a remarkable 400x gain.
As per LookOnChain’s report, this trader acquired an impressive 7,197 SOL by investing in FartCaster tokens, representing a significant 55.1% of the token’s total supply. Notably, this bold move occurred precisely during the token’s trading launch.
12 fresh wallets (insiders) made a profit of 770
$ETH
($1.77M) on
#dogwifhat
with only 1.6
$ETH
($3,694)!
These wallets were created yesterday and bought
#dogwifhat
in the same block where the deployer opened trading.
Other users started to buy
#dogwifhat
12 minutes later.…
pic.twitter.com/d3cil8DB8t
— Lookonchain (@lookonchain)
February 3, 2024
The peak of this trader’s profits came when they sold 53.94 billion FartCaster tokens for 7,215 SOL, resulting in a substantial return on their initial investment. Even after the significant sale, the trader retains 1.16 billion FartCaster tokens, valued at approximately $27,000, indicating a strategic reserve or unwavering confidence in the token’s future potential.
Solana’s Skyrocketing Value
Beyond these individual success stories, the
Solana (SOL)
ecosystem itself witnessed a significant surge in value. Recent market trends show a notable uptrend, with
SOL’s price
climbing from $88.32 to $94 in the past week, reaching a remarkable peak of $105.86.
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