Advertise
Elena R
Elena R
Author
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
- Dec 28, 2023 08:39 UTC
-
Here’s How a Solana Trader Turned $2,220 into $5.7 Million in 6 Days
A Solana trader turned $2,220 into $5.7 million in 6 days by buying and selling a meme coin called ANALOS shortly after its launch.
The trader bought 16 billion ANALOS with 30 SOL tokens and then sold 14.5 billion for USDC over the next six days.
Meme coins are gaining popularity on Solana, including Silly Dragon, which has surged 119.64% in the past week.
The wild world of meme coins on the Solana blockchain has once again captured headlines. Imagine turning a modest investment of $2,220 into a jaw-dropping $5.7 million in just six days! That’s precisely what a savvy trader managed, as reported by Lookonchain.
This is a story you don’t want to miss out on. Read on!
ANALOS’s Swift Surge
A recent report from Lookonchain spotlighted a trader’s brilliant strategy. With an initial investment of $2,000, the trader made a strategic move, acquiring 16.1 billion ANALOS on Raydium using 30 SOL tokens, valued at $2,220.
Notably, this transaction occurred just moments after ANALOS entered the market, prompting questions about possible insider insights.
Between 03:22 and 03:45 (UTC) on December 20, the trader executed 30 transactions, moving 516 million ANALOS. Ultimately, 15.5 billion ANALOS was transferred, retaining 680.3 million tokens in the primary wallet. This activity coincided with a surge in ANALOS’s value, amplifying the trader’s returns.
Smart Strategy
Following these pivotal moves, the trader strategically converted ANALOS to USDC. In the subsequent six days, 14.5 billion ANALOS were exchanged across multiple addresses, resulting in a notable $3.45 million in USDC. Despite these conversions, the trader retains over a billion ANALOS across four addresses.
Also Read: Solana in Trouble? Max Keiser Hints at “Rug Pull” in Cryptic Tweet
Silly Dragon’s Claim to Fame
This trader’s achievement is part of Solana’s broader meme coin narrative. Silly Dragon (SILLY), introduced by Solana’s co-founder Anatoly Yakovenko in Halloween 2023, has gained momentum. Currently valued at $0.1328, SILLY has surged by 22.29% in 24 hours and an impressive 119.64% over the week.
With 1 billion tokens in play and a user-centric transaction approach devoid of taxes, Silly Dragon continues to attract investors’ attention amidst Solana’s meme coin fervor.
Read More: Top 10 Meme Coins To Invest In 2024
Yes 
No 
