On-chain data revealed that an anonymous trader had created a new account on the Solana (SOL) network. meme coin It shows that he made millions of dollars in profits within minutes after making a timely exit from .
Blockchain tracking firm Lookonchain first identified a trader who spent approximately 10,000 SOL to accumulate approximately 70 million Slerf (SLERF) tokens.
Lookonchain says the trader did not plan to hold the SLERF token for a long time and immediately disposed of it at the first opportunity.
“Unbelievable!
This guy made ~$3.02 million in just 12 minutes trading SLERF!
He spent SOL 9,894 ($1.98 million) to purchase 69.74 million SLERF immediately after the transaction opened.
He then sold it within 12 minutes for SOL 25,001 ($5 million).
He earned 15,107 SOL ($3.02 million) in just 12 minutes!”
The blockchain tracking firm also identified a different trader who used a different strategy to more than double their initial investment in Slerf.
According to Lookonchain, the trader emptied about half of the Slerf treasury during a recent rally to recoup their capital, leaving the rest in anticipation of future rallies.
“A new wallet withdrew 10,100 SOL from Binance and spent 10,000 SOL to buy 2.39 million SLERF…
After SLERF rose again, he sold 1.43 million SLERF for 10,000 SOL to get back the principal.
He now has 961,165 SLERF ($1.24 million) on hand and it’s pure profit!”
At the time of writing this news SLERFis trading at $0.753, up over 25% in the last 24 hours.
