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

A crypto dealer made thousands and thousands of {dollars} in revenue on a Solana (SOL)-based memecoin in a matter of weeks, in accordance with the digital asset tracker Lookonchain.

Lookonchain notes that the dealer spent 3,100 SOL value $530,000 to purchase 12.08 million Jeo Boden (BODEN) two days after BODEN went on-line final month.

BODEN is a brand new memecoin constructed on Solana.

On April sixth and ninth, the dealer offered a complete of 9.08 million BODEN for 23,758 SOL value $4.06 million, realizing a revenue of 20,659 SOL ($3.53 million).

The crypto dealer nonetheless holds 3 million BODEN. With the memecoin buying and selling at $0.793 at time of writing, that leftover trove is value almost $2.38 million.

Between the realized features from the trades on April sixth and ninth and the unrealized features from the leftover BODEN, the dealer has netted greater than 11x in revenue from the unique commerce final month.

BODEN is down greater than 6% up to now 24 hours however up greater than 56% up to now week and greater than 1,700% up to now month.

SOL is buying and selling at $170.18 at time of writing. The main Ethereum (ETH) competitor is down almost 3% up to now 24 hours and almost 9% up to now seven days, although it’s up greater than 15% up to now month.

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