The crypto world is rewarding, to say the very least!
A trader recently struck gold by riding the wave of the SMOLE token’s surge, a newcomer to the Solana blockchain created by the talented artist Dekadente. Acting swiftly, this trader invested 18,460 SOL to secure a whopping 22.21 billion SMOLE tokens. Within a mere 15 minutes, they sold their SMOLE stash for an impressive 37,446 SOL, reaping a staggering profit of 18,986 SOL—a feat that turned heads across the crypto community.
Well, how was this done? Read on to find out.
SMOLE’s launch began with raising 169,982 SOL during its presale, which is the largest any Solana meme coin has ever raised. The token’s availability for trading was made possible today through its listing on the crypto exchange HTX, Bitrue, XT.com, Gate.io and few more.
The surge in Solana’s memecoins mirrors the broader uptick in the crypto market, boosting Bitcoin, Ethereum, and a slew of altcoins. Currently, Solana memecoins collectively boast a market capitalization surge of 2.1% in just one day, reaching a whopping $6 billion.
Amid the memecoin frenzy, Anatoly Yakovenko, Solana’s co-founder, urges a balanced investment approach in crypto, cautioning against excessive focus on memecoins.
The influx of memecoins has strained Solana’s network, causing congestion and delaying token distribution, including the highly anticipated airdrop.
To tackle this hurdle, 0xDekedente proposed a strategic fix: launching the token first, then executing the airdrop once network conditions stabilize.
Community Consensus
An online poll revealed the community’s preference for prioritizing the token launch, despite potential delays for pre-sale participants.
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