Solana Trader Misses $1 Million Profit from Meme Token BOME

A user with the address shatter.sol purchased the meme token Book of Meme (BOME) on the Solana network, earning over $100,000 in a day. However, after selling, the asset’s price surged even higher.

Invest 50 $SOL and get back 767 $SOL, earn 717 $SOL($123K) in just 14 hours!

shatter.sol spent 50 $SOL to join the presale of $BOME and received 170.25M $BOME.

Then he sold all 170.25M $BOME for 767 $SOL.https://t.co/HU8Or5Eyan pic.twitter.com/odYPc9zDqW

— Lookonchain (@lookonchain) March 14, 2024

According to on-chain data, on March 13, the trader acquired 170.25 million BOME for 50 SOL (approximately $8,500 at the time of the transaction). The next day, he sold the assets for 767 SOL (around $130,000).

A day later, according to CoinGecko, the token’s price rose from $0.00005 to $0.005 — a 410% increase. Potentially, shatter.sol could have earned about $950,000 if he had sold the coins at this rate.

The 170.25M $BOME this guy sold for 767 $SOL($131K) yesterday is now worth 5,440 $SOL ($956K)!

If only he had been more patient!https://t.co/vSdGzrwoOW pic.twitter.com/xr1YaeR2CI

— Lookonchain (@lookonchain) March 15, 2024

The community is divided: one user considered the trade a “missed generational wealth,” while another stated that “profit is profit.”

Crypto influencer Elja highlighted other speculations with BOME. An unknown individual purchased 5.5 billion meme tokens for 420.69 SOL (approximately $71,500). Within a few days, these assets turned into $5.7 million.

This address sent 420.69 Sol to join Book of memes presale.
In less than 48Hrs
He turned $80K to 5.7M
Yes it’s true pic.twitter.com/ix6jwM9VhN

— Elja (@Eljaboom) March 15, 2024

User X, under the nickname Sunday Funday, reported buying BOME for a similar amount in SOL. It is likely the same person, as he is the largest holder of the asset.

I exchanged the memetic 420.69 SOL today in the $BOME presale and currently #1 holder.

Super proud to support @Darkfarms1 and seeing y’all recognize the immense cultural value of artists everywhere — not just the Doodle Master.

I’m at Après-ski and bought a hat to celebrate. pic.twitter.com/hx5men7gCm

— Sunday Funday (@SundayFundayLFG) March 13, 2024

In March, the increased network activity in Ethereum, spurred by the popularity of meme coins, led to fees reaching a two-year high. From March 2 to 9, transaction fees on the mainnet reached $193 million.

Analysts at K33 Research saw the meme coin rally as a sign of an emerging altseason.

Later, Bitfinex noted the rise of AI tokens and cat-themed coins.