While the 2024 bull season has so far been led by a limited number of cryptocurrencies other than Bitcoin, the majority of them have been meme coins. In fact, when we go even more in detail, it can be said that those based on Solana are also leading the way. In all this Solana coin frenzy, one trader made a profit of $22.8 million in just a few months.
This trader, who made large purchases of WIF, BONK, BODEN and MYRO tokens, is not believed to be from within the project teams. The owner of the wallet named paulo.sol made a profit of $9.5 million with WIF, $7 with BODEN and $6.2 million with BONK. The trader also earned $550,000 from MYRO.
What did he do to earn so much?
What kind of strategy did this trader follow to make so much profit in just a few months? The trader saw the interest in BONK on November 11 and bought it. By buying low and selling high, and doing it dozens of times, the trader managed to make a profit of $6.28 million.
According to research from on-chain platform Lookonchain, the trader discovered and bought the WIF token on December 14. Like BONK, he bought deep low and sold high, making a profit of $9.5 million on WIF.
On March 6, the investor who discovered BODEN exhibited the tactics he applied in WIF and BONK and won again. BODEN generated a profit of $7 million.
“Not from the project team”
Lookonchain noted in its assessment that this trader, unlike many others, is not a project insider and always buys coins after their first rise. It is known that those who are part of the development team or those who get information from them usually buy before the projects rise. Some traders were even seen buying 1 minute after the coin was released.
The wallet owner named paulo.sol currently still holds $7.6 million worth of BODEN and $5.7 million worth of WIF.
He also bought new coins
This trader was last seen purchasing PUPS and POPCAT coins. He bought $1.7 million worth of POPCAT at a purchase price of $0.42. paulo.sol paid $6 million for PUPS and bought 101,000 units. With this purchase, the trader also became the account holding the most PUPS on the Solana network.