A user with the address sundayfunday.sol earned approximately $2.26 million from the new token 1DOL, as noted by analysts at Lookonchain.
sundayfunday.sol turned 13 $SOL($2,275) to $2.26M in just 8 hours by buying #1DOL, a gain of 993x!
sundayfunday.sol is a legend!
He is the largest pre-sale participant of $BOME, spending 421 $SOL($72K) to participate in the pre-sale and received 1.43B $BOME($40M at peak).
Then… pic.twitter.com/4zYtCcP5Yi
— Lookonchain (@lookonchain) May 19, 2024
The trader spent 13 SOL ($2275) to purchase 242 million 1DOL. Eight hours later, they were valued at $2.26 million. According to analysts, the token’s value increased 993-fold.
Prior to this, the same address became the largest participant in the BOME presale. The user spent 421 SOL ($72,000) and received 1.43 billion BOME (about $40 million at its peak).
He sold 530 million BOME for 38,305 SOL ($7.66 million). Currently, the investor holds 894 million BOME worth approximately $10.5 million, remaining the largest holder of the token.
Earlier, another trader earned $46 million from PEPE as the meme coin reached a historic high. He invested $3,000 in the asset about a year ago. During this time, the value of the meme token increased 15,718-fold.
In May, Lookonchain specialists reported how an investor turned 60 SOL (~$8,700) into $1.26 million on HAMMY in two months.
In April, they discovered a trader who earned over $26 million from trading meme tokens over several months. Another user made a profit of $1.5 million on seven coins.
Despite concerns about a bubble in the meme coin segment and skepticism from some experts, Synthetix founder Kain Warwick has described this type of coin as a valuable tool for attracting traders to DEX.