The meme coin market is going through a period associated with fast and big profits. Parallel to this rise, one trader’s $72,000 investment rose to over $30 million in just three days, making crypto headlines.
Lookonchain to the report According to reports, a trader named “sundayfunday.sol” made a huge profit by using the address Solana (SOL) to buy and sell Book of Meme (BOME), a new meme coin launched on Solana last week. Sundayfunday.sol earned $3.66 million on its $72,000 investment and this trader still has $26 million worth of BOME.
“sundayfunday.sol turned $72,000 into $30.2 million on BOME in just 3 days! Sundayfunday.sol became the largest BOME pre-sale participant, spending 421 SOL ($72,000) to participate in the BOME pre-sale and received 1.43 billion BOME (currently $30.6 million). He sold 190 million BOME for 19,646 SOL ($3.66 million) to make a profit… leaving 1.24 billion BOME ($26.57 million).”
This incident was recorded as one of the quick enrichment stories frequently encountered in the cryptocurrency world. Meme coins such as Book of Meme (BOME) can often cause rapid and large price fluctuations. Therefore, such investments involve high risks and it is important for traders to be careful.
According to Lookonchain’s report, it was also stated that in the same period, another address’s investment of $ 19,000 made a profit of 340 times. The listing of BOME on major crypto exchanges also stands out as a remarkable aspect of this story. BOME is listed on many major crypto exchanges, including Binance and Kucoin. It is possible to say that these listings and the market-wide interest in the coin have increased the BOME price.
Lookonchain shared the following data regarding another BOME trader:
“A BOME pre-sale participant sold all 347 million BOMEs for SOL 34,647 ($6.58 million), resulting in a 340x return! He only spent 102 SOL ($19,000) to participate in the pre-sale and received 347 million BOME airdrop!”
While two traders made incredible profits from their bets, the others could not bear to hold BOME long enough to make the same exponential gains.
Lookonchain also reported a Solana address selling BOME coins for $131,000; If this investor had held his assets for about 48 more hours, he would have made $3.5 million. The red “S” in the chart below shows where the investor sold his BOME accumulation.
The meme coin craze has created a huge wave in the cryptocurrency market recently and divided investors into two.
Meme coins are digital assets that are often created using entertaining content, humor, or pop culture references to attract public attention. Unlike more traditional cryptocurrencies such as Bitcoin and Ethereum, their value is often based on speculation and not on fundamental factors such as technological innovation or durability.
Many people think that the meme coin craze could harm the cryptocurrency market. These people are concerned that the value of meme coins is being manipulated, increasing market volatility and misleading investors. It should also be noted that since such coins are low-value and risky, investors have the potential to suffer large losses.
However, from another perspective, some investors think that meme coins may offer an opportunity to make profits. These coins may have the potential to attract investors’ attention and fill a gap in this market. This raises hope that meme coins may reach a wider user base and increase in value in the future.
You can access current market movements here.
