An unknown trader managed to earn $2 million in 22 days on a single trade of the meme coin Silly Dragon (SILLY), investing 1 SOL (~$62 at the time).
Starting with only 1.5 $SOL($92), this trader made $2M in 22 days, a gain of 21,715x!?
This trader spotted $SILLY 5 minutes after it opened trading and spent 1 $SOL($62) to buy 43.1M $SILLY.
Then he sold 33.34M $SILLY for $528K, and currently has 9.76M $SILLY($1.5M) left,… pic.twitter.com/ByY1Tpupah
— Lookonchain (@lookonchain) December 27, 2023
According to on‑chain data, the user noticed the coin five minutes after it began trading and bought 43.1 million SILLY for 1 SOL.
After a little over three weeks, he sold 33.34 million SILLY for $528,000 in stablecoin USDC — a gain of about 21,715x.
His wallet still holds 9.01 million SILLY worth about $1.26 million. With that amount, the trader ranks ninth-largest holder of the asset.
In the comments under the Lookonchain post, some suggested the fortunate user could be the project’s founder himself. Others suspected the user of insider trading.
Insider trading for sure. No one can do that without information ?
— Akira ☯️ (@DeFi_Akira) December 27, 2023
Silly Dragon appeared on November 8 after a post by Solana co‑founder Anatoly Yakovenko, in which he wrote: “year of the silly dragon”.
year of the silly dragon
— toly ?? (@aeyakovenko) November 8, 2023
Likely this was a reference to the developer’s Halloween costume at the Solana Breakpoint 2023 conference in Amsterdam.
On the Silly Dragon site, it says that Yakovenko’s post “brought fresh and playful energy to Solana’s narrative.” The meme-token team warned — the coin is intended solely “for entertainment and educational purposes,” and its founders bear no responsibility for losses.
Earlier another trader managed to earn $5.7 million on the ANALOS token, investing 30 SOL (~$2,200 at the time). Total return was about x2570.
Earlier, Solana’s monthly active and new address metrics reached annual highs as the native token’s price rose to $118 for the first time since April 2022.
Meanwhile, hype around the BONK meme-token airdrop led to a shortage of Saga smartphones from Solana Labs. Earlier in the month, Yakovenko admitted to weak smartphone sales.