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Crypto Trader Turns $2.2K SOL Into $2.26 Million in Eight Hours with Memecoin Trade
Crypto Trader Turns $2.2K SOL Into $2.26 Million in Eight Hours with Memecoin Trade
A cryptocurrency trader, trading under the wallet name “sundayfunday.sol,” made an incredible 993x gain on purchasing 13 Solana (SOL) of a newly launched memecoin called 1DOL. The initial investment of $2,275 turned into an astonishing profit of $2.26 million in just eight hours. second look on the chain. However, the profitable trade triggered accusations of insider trading.
1DOL, the memecoin the trader invested in, launched on May 18 and hit a high price of $0.02 the next day before plummeting more than 90% to its current value of $0.0017. According to data from CoinMarketCap, 1DOL is currently down 43% in the past 24 hours.
Some observers have pointed out that the low liquidity of the exchange pool, currently valued at $291,000 in SOL tokens, would make it difficult for the trader to cash out all of their profits without further driving down the price of 1DOL.
The wallet “sundayfunday.sol” is also the largest participant in the Book of Memes (BOME) token presale. The trader purchased BOME tokens worth over $72,000, reaching a maximum value of over $40 million. While the trader has made profits on some of his holdings, he remains the largest holder of BOME tokens, currently holding 894 billion BOME tokens worth $10.5 million.