A trader’s bold $226,000 gamble on Solana Memecoin skyrocketed to $1.69 million in just 5 days!
The excitement surrounding Solana’s memecoin frenzy grows as a trader turns a small investment of $226,000 into an astonishing $1.6 million.
This particular feat was achieved by guessing a token featuring a beanie-wearing dog as the mascot.
Between December 13 and December 15, traders had the opportunity to invest in more than 19 million Dogwifhat (WIF) tokens, a recently launched dog-themed memecoin within the Solana network.
Lookonchain, a blockchain analysis company We can see that these tokens were acquired at an average price of $0.01137.
The total value of these tokens now stands at around $1.69 million, generating an impressive $1.47 million profit in just 5 days.
Bonk Claims Third Largest Market Capitalization
The surge in interest in the Solana ecosystem has resulted in significant gains for the memecoins present on the network.
December 8th, BONK, a dog-themed meme coinIt has secured the position of the third largest memecoin by market capitalization.
It surpassed Pepecoin, a frog-themed memecoin, and joined the ranks of Shiba Inu and Dogecoin.
Outperforms competing dog Memecoin
Bonk’s price soared 370% in the 30 days to December 11, rising from $0.0000028 to $0.00002 at the time of this writing.
Notably, this growth outpaced fellow dog memecoins SHIB and DOGE, which grew 20% and 35% over the same period.
The Bonk craze not only influenced memecoin prices but also boosted sales of Solana’s Saga phones.
Saga phone owners received an airdrop of 30 million Bonk meme coins upon launch.
Taking advantage of the rising token value, users took the opportunity to purchase mobile phones and sell the tokens they earned for profit.