One dealer is seeing seven-figure earnings on a Solana (SOL)-based memecoin that’s up 51x year-to-date, in response to on-chain information.
Blockchain monitoring agency Lookonchain notes that one dealer bought dogwifhat (WIF) in December 2023 and has racked up a 118,967% acquire by making a sequence of strategic gross sales because the memecoin soared.
“Each time WIF goes up, this 1,000x winner sells a part of WIF for revenue. He spent solely $5,879 to purchase 6.1 million WIF ($23.7 million presently) on December eighth, 2023 after which bought 4.7 million ($1.57 million) successively. He nonetheless has 1.4 million WIF left, value $5.47 million. His revenue on WIF is ~$7 million, a acquire of 1,197x!”
On January tenth WIF was buying and selling at $0.069 and is buying and selling for $3.53 at time of writing, a acquire of over 51x.
Lookonchain additionally notes that one dealer is sitting on six-figure unrealized earnings after shopping for up to now two weeks almost 119,000 MAGA (TRUMP), the memecoin impressed by former president Donald Trump, who’s working for president once more.
“The worth of TRUMP has reached an all-time excessive once more [May 29th]! Somebody withdrew 1.16 million USDT from Binance and spent 1.15 million USDT to purchase 118,671 TRUMP at a mean worth of $9.69 up to now two weeks. He has an unrealized revenue of $540,000 on TRUMP presently.”
TRUMP is buying and selling for $13.91 at time of writing, up greater than 1% within the final 24 hours.
Lastly, Lookonchain says one savvy dealer has made a mixed $41.38 million in earnings buying and selling WIF together with two different memecoins, Jeo Boden (BODEN), impressed by US President Joe Biden, and Bonk (BONK).
“The sensible cash bought all 539,558 WIF for 11,708 SOL ($2 million) at a worth of $3.70 [on May 28th]. He has realized earnings of $24.1 million on WIF, $11 million on BODEN and $6.28 million on BONK.”
BONK is buying and selling for $0.00003445 at time of writing, down 6.6% within the final 24 hours. In the meantime, BODEN is buying and selling for $0.30 at time of writing, down 3.5% on the day.
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Disclaimer: Opinions expressed at The Day by day Hodl should not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal danger, and any losses chances are you’ll incur are your duty. The Day by day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Day by day Hodl an funding advisor. Please word that The Day by day Hodl participates in internet online affiliate marketing.
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