Solana (SOL)’s year-end surge continues with the price of SOL rising 550% from less than $20 three months ago to a high of $123.66 on Christmas Day.
During that time, several investors have converted small holdings worth less than $1000, and in some cases less than $100, into millions of dollars, achieving returns of over 10,000x in just a few days.
Millionaire Made with SOL and Meme Coins Defies End-2023 Predictions (and Gravity)
Solana was declared dead by several analysts and commentators following the collapse of FTX and Alameda Research in late 2022 due to SOL’s close ties to Bankman-Fried.
However, SOL started the year at $9.961 and has risen to $112.23 at the time of this writing, a gain of more than 1,000%. Most of this has occurred since September, when SOL was worth less than $20.
The rise in Solana’s price has been driven by a number of factors, but the ones most credited are the December JITO airdrop and the recent meme coin mania that has hit the chain. This started with BONK, which saw an incredible rise leading to BONK being listed on Coinbase in mid-December.
According to Lookonchain’s analysis, it is meme coins, specifically SILLY, ANALOS and MELON, that have turned some traders into millionaires in just a few weeks.
One trader started with $92 worth of SOL. According to LookinchainAnd we converted that into $1.55 million in 16 days.
They used 0.7 SOL to buy 20.5 million meme coins SILLY and then traded 1/4 of their SILLY holdings for $202,575 USDC, still holding ~15 million SILLY, worth over $2 million at the time of this writing. .
Not a millionaire, second trader In less than a day, you can see over 1000x your investment, turning $242 into $250,000. Before you see the price skyrocket, you use 3 SOL to buy MELON and sell part of your holding for 1,562 SOL.
third The trader made an astronomical profit, taking $3.47 million to $900.Trades the ANALOS meme coin with $1.43 million in USDC and currently has 1.12 billion ANAMLOS tokens in its account.
Finally fourth The trader converted $2,200 into $5.7 million.Just one minute after ANALOS hit the market, 16 billion ANALOS were purchased for 30 SOL ($2,200) and then sold most of them for 3.45 million USDC.
December was a good month for cryptocurrency traders and investors, with many coins looking green as 2023 approaches.
Could Meme Kombat Be the Next Explosion Coin?
The huge profits mentioned above are something most traders can only dream of and many people spend time searching for in the cryptocurrency market. Meme Kombat, a token currently in the pre-sale phase, is predicted by some analysts to do just that, having already raised $4.6 million of its $5 million target.
Meme Kombat is raising funds through $MK token sales to build a gaming platform that pits the most popular memes, including Pepe, Sponge and Shiba, against each other in battles featuring captivating AI-based fight sequences.
Users can do more than just watch these battles, as $MK token holders can bet their tokens on these battles through player-versus-game and player-versus-player betting, allowing for exciting betting between friends.
Pre-sale token prices rise in stages, so if Meme Kombat’s $MK token goes parabolic the same way many of Solana’s Meme coins have recently, getting in earlier could result in bigger profits. Pre-sale participants can immediately stake their tokens and receive high APY, currently reaching 194%.