Solana trader misses $1m profit from new BOME meme coin

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A person with the handle 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 keeping with Lookonchain on-chain information, on March 13, the dealer bought 170.25 million E book of Meme (BOME) for 50 Solana (SOL), which was value $8,500 on the time of the transaction. The subsequent day, the dealer bought the property for 767 SOL, which was value round $130,000.

A day later, based on CoinMarketCap, the token price elevated from $0.00005 to $0.00671 – by virtually 600%. Probably, shatter.sol may have earned round $950,000 if it bought cash at this value, Lookonchain notes.

Solana trader misses $1m profit from new BOME meme coin - 1
Supply: CoinMarketCap

The group was divided, with one person deeming the deal “fumbled generational wealth,” whereas one other mentioned, “revenue is revenue.”

Crypto influencer Elja drew consideration to different speculations with BOME. An unknown individual bought 5.5 billion meme tokens for round $71,500 value of SOL. Inside a couple of days, these property changed into $5.7 million.

One other X person, 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. Through 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 keeping with Lokonchain, a dealer could have earned greater than $23 million on the little-known Dogwifhat (WIF) token if he had not bought it earlier than the bull run started. As a substitute, the dealer bought $142,000 value of cash.

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