An unknown trader earned more than $1.26 million on the HAMMY memcoin; he increased his deposit by 144 times. This was reported by the analytical company Lookonchain.
This trader is so patient!
He turned 60 $SOL($8,673) into $1.26M in 2 months, a gain of 144x!
He spent 60 $SOL($8,673) to buy 24.8M $HAMMY at $0.00035 on Mar 10.
About a month later, the price rose to $0.007, and his gain had exceeded 20x, but he did not sell for profit.… pic.twitter.com/7k66nwgQOZ
— Lookonchain (@lookonchain) May 7, 2024
According to analysts, the user spent 60 SOL ($8673 at that time) to purchase HAMMY at a price of $0.00035. About a month later, the price of the asset rose to $0.007 and he increased his deposit by more than 20 times, but did not record any income.
By May 4, 2024, he had sold 12.8 million HAMMYs for 2,711 SOL ($401,000 at the time) at a price of $0.0313. Now he has 12 million HAMMY left, which is valued at about $858,000. That is, the total profit was more than $1.26 million.
A previously unknown trader earned about $2 million on the SILLY memcoin on the Solana network.
Also recently, Solana co-founder Raj Gokal supported the development of projects related to the issuance of memcoins. He questioned Buterin's words that such projects scare away developers.
Source: Cryptocurrency
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