Bitcoin continues to experience volatility, and the overall situation for altcoins is not very encouraging. However, there are exceptions. In particular, meme coins within the Solana ecosystem have turned into a gamble. Among the numerous new altcoins, a few achieve success and earn their investors millions of dollars.
BOME Coin
We recently mentioned an investor who bought $19,000 worth of BOME Coin. Taking into account the negative trend in BTC prices, this investor acted on unrealized gains and sold their holdings. They sold all 347 million BOME Coins they had bought for just $19,000. Thus, they effectively turned $1 into $340.
The investor who participated in the presale had spent 102 SOL. The tokens sold for 34,647 SOL are worth approximately $6.58 million. This amount could be one of the best earnings a person has made in a short time with an investment under $20,000. Although cryptocurrencies seem to be filled with such opportunities, the risks are much higher.
On the other hand, the owner of a wallet named sundayfunday turned $72,000 into $30.2 million in just 3 days. The investor who spent $72,000 to participate in BOME’s presale received 1.43 billion BOME Coins. Six hours ago, they sold 190 million tokens for $3.66 million, becoming the biggest participant in this cryptocurrency’s presale.
The wallet still holds tokens worth $26.5 million.
Solana Meme Coins
Solana-based meme coins have been attracting high interest, and we can see this with the price fluctuations of JUP Coin. JUP, the native cryptocurrency of Jupiter, has seen further increases with the rising volumes in its DeFi protocol.
Investors looking for quick, substantial gains are investing in all Solana-based meme coins in DeFi protocols to find the next BOME Coin. However, the issue is that many of these tokens’ issuers are not well-intentioned, and massive losses and rug pull incidents are common.
The incident of an investor turning $19,000 into $6.58 million by selling worthless tokens is a rare exception. Therefore, it might be a good option to approach Solana-based meme coins, which have turned into a roulette, with more caution.
BOME Coin, which was listed by Binance just hours ago, is finding buyers at $0.021 as this article is being prepared. It continues the day with a 200% increase and has completed its Binance listing in the margin. This latest example has shown us all how tokens that attract volume are quickly listed on the largest centralized exchanges.
