'Solana Trader "Paulo.Sol" Racks Up Millions Trading Meme-Inspired Coins'
Summary:
A trader on the Solana blockchain, known as "paulo.sol", turned significant profit from various meme-inspired cryptocurrencies. Originating in November 2023, transactions involving tokens like Dogwifhat (WIF), Jeo Boden (BODEN) and Bonk (BONK) resulted in the trader accumulating over $22.83 million. The trader still holds millions in BODEN and WIF and has also begun to invest in other memecoins like PUPS and POPCAT. The memecoin market success of the trader has earned community praise and stands as a shining example amidst a Solana memecoin craze.
A trader dealing in meme-inspired digital coins on the Solana (SOL) blockchain netted a windfall of millions across various meme tokens. A timely alert on April 26th, issued by Lookonchain, a blockchain analysis company, showed cryptocurrency related activities by a trader using the Solana Name Service account named "paulo.sol". The trader's cryptocurrency wallet had transactions involving meme tokens like Dogwifhat (WIF), Jeo Boden (BODEN) and Bonk (BONK). The trader's involvement with BONK began back on Nov 11, 2023. Spotting the upward trend of the memecoin resulted in token purchases swiftly followed by the strategy of swing trading - purchasing at low points and selling at high points. These transactions led to a potential earning of about $6.28 million from BONK trading alone. Buying and selling of Bonk occurred via the "paulo.sol" cryptocurrency wallet. (Data source: Dexscreener as provided by Lookonchain)
Simultaneously, this trader also showed interest in WIF and BODEN. However, they refrained from immediate investment as these tokens became available. The trader began to accumulate these coins only when their upward price movements became apparent. The WIF dealings started on Dec 4, 2023 and BODEN trading began on March 6. The total earnings amassed from these transactions were $9.51 million and $7.04 million from WIF and BODEN trades respectively. In total, the trader made over $22.83 million from trading in Solana-based meme tokens. Currently, the "paulo.sol" wallet is holding BODEN tokens worth $7.6 million and $5.7 million worth of WIF.
Apart from these meme-inspired tokens, the trader has also entered into other memecoin markets. The "paulo.sol" account started investing in tokens namely PUPS and POPCAT, purchasing $1.77 million worth of POPCAT and nearly $6 million of PUPS, subsequently becoming the largest holder of PUPS on the Solana blockchain.
Community members appreciated this trader's achievements, with one member stating that the trader didn’t rely on luck but displayed more determination than others. Another member labeled the trader as having "diamond" hands, implying staying power even under market pressure. This trader is among several others, who have been profitable amidst the Solana memecoin frenzy. On Dec 29, a trader gained $2 million after investing only $62 on a SOL-based meme token. On April 3, another trader turned $13,000 into $2 million within an hour, as the memecoin mania flourished.
Published At
4/26/2024 12:45:57 PM
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