Over a 30-day period, a trading bot amassed approximately 27,000 SOL ($6.8 million) through sniper trades involving several meme coins on the Pump.fun platform. This activity was highlighted by analysts at Lookonchain.
A bot may have earned ~27,000 $SOL($6.8M) by sniping #memecoins on https://t.co/C909I8882s over the past month!
2 days ago, the bot spent just 2 $SOL to snipe 57M $FATHA and sold it all for 4,456 $SOL, netting 4,454 $SOL($1.12M)—a staggering 2,227x return!
Today, it spent 1.75… pic.twitter.com/BQf15VpClQ
— Lookonchain (@lookonchain) November 25, 2024
Two days ago, the bot spent 1.75 SOL to acquire 57 million FATHA, and after the coin’s price surged, sold it for 4,456 SOL ($1.12 million). The profit amounted to 2,227%.
On November 25, it purchased 58.57 million FRIC for 1.75 SOL. The sale of the asset resulted in a 943-fold return on investment—1,646 SOL ($418,000).
The bot operates on a decentralized wallet for sniping and transfers profits to the OKX exchange. In total, over the past month, it deposited 19,000 SOL of the 27,000 SOL earned to this address for further sale.
Previously, ForkLog reported that an insider at Sotheby’s achieved a 490-fold profit on the meme token BAN.