A trader specializing in memecoins has made a significant profit by cashing out on various meme-themed tokens on the Solana blockchain. The trader, known as “paulo.sol,” utilized the Solana Name Service account and realized profits from tokens like Dogwifhat (WIF), Jeo Boden (BODEN), and Bonk (BONK).
The trader first invested in BONK on November 11, 2023, after noticing its rising popularity. They adopted a swing trading strategy, buying at lows and selling at highs, which resulted in a total profit of approximately $6.28 million from BONK trades.
Additionally, the trader identified potential in WIF and BODEN. Rather than immediately investing, they patiently observed the tokens’ upward swings. Eventually, the trader began buying WIF on December 4, 2023, and trading BODEN on March 6. These trades yielded profits of $9.51 million from WIF and $7.04 million from BODEN.
In total, the trader has made over $22.83 million by flipping meme tokens on the Solana blockchain. Despite already securing substantial profits, they continue to hold $7.6 million worth of BODEN tokens and $5.7 million worth of WIF at present.
Furthermore, the trader has expanded their portfolio to include other memecoins. They have invested $1.77 million in POPCAT and nearly $6 million in PUPS, making them the largest holder of PUPS on Solana.
The trader’s impressive trading moves have garnered praise from the community. One user commended their “conviction,” suggesting that their success was not simply a stroke of luck. Another user described the trader as having “diamond” hands, a term used to describe traders who can withstand pressure and hold onto their tokens.
This trader is just one example of many who have profited from the memecoin craze on the Solana blockchain. Others have also achieved significant gains, such as a trader who turned $62 into a $2 million jackpot and another who transformed $13,000 into $2 million in just one hour.
In other news, a woman has been accused of a $6 billion scam, and there is a China loophole for Hong Kong Bitcoin ETFs, as reported by Asia Express magazine.