By trading memcoins on the Solana blockchain, a trader with the domain paulo.sol made over $26 million. The trader started looking into the Bonk (BONK) memcoin rate in early November of last year and decided to invest in the asset.
A trader who participated in what is known as swing trading made over $6.28 million off of fluctuations in the token price. The trader started purchasing Dogwifhat coin (WIF) in December 2023 and Jeo Boden coin (BODEN) in March 2024.
His purchases occurred just as the value of memcoins started to skyrocket. From trading coins, paulo.sol earned $9.51 million and $7.04 million, respectively.
As per Lookonchain, the trader is still holding $7.6 million worth of BODEN and $5.7 million worth of WIF positions. Attention, experts: paulo.sol has begun purchasing additional memtokens. He became Solana’s largest PUPS holder after spending nearly $6 million on the token and $1.77 million on POPCAT.
The analysts at the company have previously highlighted the successful trading activities of traders in relation to the continuing boom of meme tokens, so this is not surprising. But there aren’t many of them; those that do either have insider knowledge or are seasoned pros.