An unidentified individual purchased the SatoshiVM (SAVM) token immediately after its launch and secured a profit of $6.77 million within three hours. Analysts at Lookonchain highlighted this event.
In just 3 hours, this trader made ~$6.77M on $SAVM!?
He used #BananaGun and a bribe fee of 141.66 $ETH to be the first one to buy $SAVM at the opening, buying 2.61M $SAVM with a total cost of 277.66 $ETH($681K).
Now he is selling $SAVM and has sold a total of 2.16M $SAVM for… pic.twitter.com/F21Te2NTRH
— Lookonchain (@lookonchain) January 19, 2024
The trader employed the Banana Gun Telegram bot to automatically purchase the coin at launch and sell it at peak price.
The investor initially deposited 277.66 ETH (~$681,000) to acquire 2.61 million SAVM. The fee to secure the first spot in line for purchasing the coin was 141.66 ETH (~$347,000).
Subsequently, he sold 2.16 million tokens for $4.38 million and currently holds an additional 450,000 SAVM valued at just over $3 million.
Some users on X speculated that the trader was an insider or a project developer. Others hailed him as a “legend” for the bold move of depositing a large sum into a trading bot.
Banana Gun remains a contentious topic within the community. Several Reddit users reported the disappearance of funds after sending them to the “sniper” bot used by the fortunate SAVM trader.
In September 2023, the launch of Banana Gun’s native token failed due to a bug in the smart contract. The error caused the token’s price to plummet nearly 100%.
Earlier in January, an unknown user managed to earn $1 million on the meme token TROLL. The trader purchased the cryptocurrency after billionaire Elon Musk changed his X-account signature to “(CTO) Chief Troll Officer.”