Trader Nets Over 11x Profit on a Solana-Based Memecoin That’s Exploded Over 2,500% in a Month: On-Chain Data

A crypto trader made millions of dollars in profit on a Solana (SOL)-based memecoin in a matter of weeks, according to the digital asset tracker Lookonchain.

Lookonchain notes that the trader spent 3,100 SOL worth $530,000 to buy 12.08 million Jeo Boden (BODEN) two days after BODEN went online last month.

BODEN is a new memecoin built on Solana.

On April 6th and 9th, the trader sold a total of 9.08 million BODEN for 23,758 SOL worth $4.06 million, realizing a profit of 20,659 SOL ($3.53 million).

The crypto trader still holds 3 million BODEN. With the memecoin trading at $0.793 at time of writing, that leftover trove is worth nearly $2.38 million.

Between the realized gains from the trades on April 6th and 9th and the unrealized gains from the leftover BODEN, the trader has netted more than 11x in profit from the original trade last month.

BODEN is down more than 6% in the past 24 hours but up more than 56% in the past week and more than 1,700% in the past month.

SOL is trading at $170.18 at time of writing. The leading Ethereum (ETH) competitor is down nearly 3% in the past 24 hours and nearly 9% in the past seven days, though it is up more than 15% in the past month.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3