{"id":10925,"date":"2024-05-01T21:49:35","date_gmt":"2024-05-01T21:49:35","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/how-these-solana-meme-coin-traders-turned-6400-into-8-million-in-24-hours\/"},"modified":"2024-05-01T21:49:35","modified_gmt":"2024-05-01T21:49:35","slug":"how-these-solana-meme-coin-traders-turned-6400-into-8-million-in-24-hours","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/how-these-solana-meme-coin-traders-turned-6400-into-8-million-in-24-hours\/","title":{"rendered":"How These Solana Meme Coin Traders Turned $6,400 Into $8 Million In 24 Hours"},"content":{"rendered":"

Despite the current market downtrend, crypto traders are still finding ways to make life-changing gains. This is the case of some Solana meme coin traders who recently turned $6,400 into $8 million in 24 hours.\u00a0<\/p>\n

<\/span>How These Solana Meme Coin Traders Turned $6,400 Into $8 Million<\/span><\/h2>\n

On-chain analytics platform Lookonchain revealed in an X (formerly Twitter) that these traders turned $6,400 into $8 million by investing in $TIM, a meme coin on Solana. 2 newly created wallets were said to have used 44.78 to buy 526.6 million $TIM (52.665 of the token\u2019s total supply) within three minutes of launch.\u00a0\u00a0<\/p>\n

<\/p>\n

These wallets then transferred their $TIM holdings (now worth around $8.28 million) to multiple addresses to avoid drawing attention. On-chain data shows that they are already looking to secure their profits, as they have been selling their $TIM tokens, although in small bits, to avoid a market crash.\u00a0<\/p>\n

\"Meme<\/p>\n

Meme coins (especially ones on Solana) have continued to provide traders with significant gains, especially with Bitcoin and other major cap cryptocurrencies maintaining a downward trend. Bitrabo previously reported of a trader who turned $1,800 into $11 million with Dogwifhat (WIF) by getting in early on the meme coin while it was still a micro-cap token.\u00a0<\/p>\n

Meanwhile, more recently, pseudonymous crypto trader Larp von Trier was reported to have turned $353 into $8.3 million by investing in $KEYCAT, a meme coin on Base. The layer-2 network (like Solana) has witnessed an influx of meme coin traders thanks to the barrage of meme coins that continue to launch on the network daily.\u00a0\u00a0<\/p>\n

<\/span>More Recent Success Stories<\/span><\/h2>\n

Lookonchain also recently revealed a trader who turned $9,770 into $10 million in just a day. The trader spent 64.5 SOL to buy<\/a> 97.36 million $GUMMY (another Solana-based meme coin) in the \u201csame block where the $GUMMY deployer added liquidity.\u201d Another trader turned<\/a> $110,000 into 48.72 million in just 3 hours by buying $MANEKI.\u00a0<\/p>\n

Related Reading: American Investment Bank Morgan Stanley Wants To Add Spot Bitcoin ETFs To 12 New Funds<\/p>\n

Although this trader wasn\u2019t the first to buy the meme coin, he used $716 SOL to acquire 1.02 billion $MANEKI (11.51% of the token\u2019s supply) less than one minute after the token launched. Like the $TIM traders, he distributed these $MANEKI tokens across different wallets to avoid drawing attention.\u00a0<\/p>\n

Meanwhile, it is worth noting that there is an ugly side to meme coin trading, as some traders have also recorded significant losses. One is a trader who recently<\/a> spent 1,600 SOL to buy $COOL and ended up selling<\/a> the meme coin for 532.58 SOL, losing 1,067.42 ($152,000) in the process.\u00a0<\/p>\n

\"Solana<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite the current market downtrend, crypto traders are still finding ways to make life-changing gains. This is the case of some Solana meme coin traders who recently turned $6,400 into $8 million in 24 hours.\u00a0 How These Solana Meme Coin Traders Turned $6,400 Into $8 Million On-chain analytics platform Lookonchain revealed in an X (formerly […]<\/p>\n","protected":false},"author":1,"featured_media":10926,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"How These Solana Meme Coin Traders Turned $6,400 Into $8 Million In 24 Hours - Bitrabo","description":"Despite the current market downtrend, crypto traders are still finding ways to make life-changing gains. This is the case of some Solana meme coin traders who r"},"footnotes":""},"categories":[316],"tags":[880,1793,540,561,1213,976,3117],"class_list":["post-10925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-coin","tag-hours","tag-meme","tag-million","tag-solana","tag-traders","tag-turned"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/10925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=10925"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/10925\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/10926"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=10925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=10925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=10925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}