The Solana memecoin frenzy continues as a dealer turns $226,000 into properly over $1.6 million by playing on a token with a beanie-wearing canine as its mascot.
Between Dec. 13 and 15, a crypto dealer purchased over 19 million Dogwifhat (WIF) tokens, a dog-themed memecoin, because it debuted on the markets inside the Solana community. In keeping with blockchain analytics agency Lookonchain, the dealer purchased the tokens at a median worth of $0.01137. Presently, the tokens’ whole worth hovers at round $1.69 million, making the dealer about $1.47 million in earnings inside 5 days.
Due to the token $WIF, this dealer turned $226K into $1.69M in 5 days.
This dealer purchased 19.86M $WIF between Dec 13 and 15 at a median worth of $0.01137.
The 19.86M $WIF is now price $1.69M, making ~$1.47M in 5 days.https://t.co/7QxZwvbzBA pic.twitter.com/xsBBOivbhW
— Lookonchain (@lookonchain) December 18, 2023
As a brand new wave of curiosity hits the Solana ecosystem, memecoins primarily based on the community have began to ship huge beneficial properties. On Dec. 8, a dog-themed memecoin referred to as Bonk (BONK) turned the third-largest memecoin by market capitalization, becoming a member of fellow dog-themed memecoins Shiba Inu (SHIB) and Dogecoin (DOGE) within the prime three and overtaking Pepecoin (PEPE), the frog-themed memecoin.
Bonk’s worth jumped by 370% within the 30 days resulting in Dec. 11, going from $0.0000028 to $0.00002 on the time of writing. The token outpaced the expansion of fellow canine memecoins SHIB and DOGE, which grew 20% and 35% in the identical interval.
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The hype surrounding Bonk additionally elevated gross sales of Solana’s Saga cell phone. Since its launch, Solana Saga telephone homeowners obtained a 30 million airdrop of the memecoin. With the token worth rising, customers grabbed the chance to revenue by shopping for the telephone and promoting the tokens.
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