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Solana (SOL) network continues to attract the attention of cryptocurrency investors, while meme coins minted on the network keep creating new millionaires. According to on-chain data, a lucky investor turned a $42 investment into hundreds of thousands of dollars. The data shows that the new millionaire cashed out a significant portion of their earnings.
Turning $42 into $1.55 Million
On-chain data provider Lookonchain detected that a lucky cryptocurrency investor made approximately $1.55 million in profit from a $42 investment in a Solana network meme coin called Silly Dragon (SILLY).
According to Lookonchain, the investor’s million-dollar profit story began with the purchase of 1.5 SOL, valued at $92. On December 5th, the investor spent 0.7 SOL, worth $42, with precise penny counting, to buy 20.5 million SILLY. Two weeks later, the price of SILLY skyrocketed, turning the investor’s $42 into $1.5 million.
Data indicates that, at the time of writing this article, the lucky investor had sold more than 16.4 million SILLY for 600 thousand USD Coin (USDC). The investor continues to hold approximately 4.1 million SILLY across two wallet addresses.
SILLY, as one of the new players in the meme coin market bringing significant gains to its investor, has an interesting market launch story. The meme coin was inspired by a small dragon in the Halloween costume of Solana Labs’ co-founder Anatoly Yakovenko. Yakovenko had introduced the character, named after the silly dragon year of 2024, a month earlier during the Solana Breakpoint conference.
SILLY saw a 900% increase in the two days following its December 5th launch, raising its market value and trading volume to over $10 million and $30 million, respectively.
SOL’s Rise: 55% in One Month
Meanwhile, SOL, the native asset of the Solana network, continues to follow a strong upward trend, alongside meme coins such as Bonk (BONK) and Dogwifhat (WIF) that were minted and launched on the network. Data reveals that SOL has reached an extremely high growth rate of 55% in the last 30 days.
BONK and WIF have risen by 840% and over 17,500%, respectively, since their launch. Similar to SILLY, these altcoins have created new millionaires. We had shared that a lucky investor bought $226,000 worth of WIF and earned $1.4 million from this investment in just five days.
