Solana trader misses $1m profit from new BOME meme coin
A consumer with the tackle shatter.sol purchased the BOME meme token on the Solana community and earned over $100,000 in a day however missed $1 million revenue.
In line with Lookonchain on-chain knowledge, on March 13, the dealer bought 170.25 million Ebook of Meme (BOME) for 50 Solana (SOL), which was price $8,500 on the time of the transaction. The subsequent day, the dealer offered the property for 767 SOL, which was price round $130,000.
A day later, in response to CoinMarketCap, the token price elevated from $0.00005 to $0.00671 – by nearly 600%. Doubtlessly, shatter.sol might have earned round $950,000 if it offered cash at this value, Lookonchain notes.
The neighborhood was divided, with one consumer deeming the deal “fumbled generational wealth,” whereas one other stated, “revenue is revenue.”
Crypto influencer Elja drew consideration to different speculations with BOME. An unknown particular person bought 5.5 billion meme tokens for round $71,500 price of SOL. Inside a couple of days, these property became $5.7 million.
One other X consumer, below the nickname Sunday Funday, reported the acquisition of BOME for the same quantity in SOL.
In March, elevated community exercise on Ethereum amid the recognition of meme cash led to a rise in charges to a two-year excessive. In the course of the interval from March 2 to March 9, the amount of transaction charges on the mainnet reached $193 million.
Launched in late 2023 forward of the crypto bull run, new meme cash are producing vital returns for early buyers. In line with Lokonchain, a dealer might have earned greater than $23 million on the little-known Dogwifhat (WIF) token if he had not offered it earlier than the bull run started. As an alternative, the dealer offered $142,000 price of cash.
