In an astonishing twist of fate, a trader’s early exit from a memecoin investment on the Solana network resulted in missing out on nearly a million dollars in potential earnings.
Initially investing $8,000, the trader sold their stake in the frog-themed memecoin, Book of Meme (BOME), for $131,000—a substantial profit by any standard.
However, this decision came just one day before the token’s value soared, an opportunity flagged by blockchain analytics firm Lookonchain on March 14.
The firm highlighted the trade of “shatter.sol,” who had bought approximately 170 million BOME tokens with 50 SOL, only to sell them before a dramatic price increase.
According to CoinGecko, BOME’s value escalated from $0.00005848 to $0.005833 between March 14 and 15, propelling its market capitalization over $320 million.
Consequently, the tokens sold by “shatter.sol” would have been valued around $993,000 had the trader held on for just one more day.
This incident has divided opinions among the crypto community, with reactions ranging from considering it a missed opportunity for “generational wealth” to acknowledging the profit made.
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Meanwhile, other traders have experienced significant success in the volatile memecoin market. Influencer Moataz Elsayed, known as “Eljaboom,” highlighted a case where an investment of 420.69 SOL (approximately $80,000) turned into $5.7 million within 48 hours.
This success story aligns with a presale investment claim by the anonymous trader “Sunday Funday,” who asserts to be the leading tokenholder of BOME.
The launch of the Book of Meme project by the pseudonymous art producer Darkfarms has drawn considerable attention, despite its experimental nature and the “weird allocation” during its presale.
Darkfarms expressed surprise at the level of participation in the memecoin’s early stages.
The broader Solana ecosystem has seen a resurgence of interest, particularly in November 2023, with an 80% increase in the value of its token.
This revival has sparked a frenzy around Solana memecoins, including Bonk, Dogwifhat, and Silly Dragon, which have all experienced significant gains, reflecting the unpredictable yet potentially lucrative nature of memecoin investments.
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