A memecoin investor has made millions from various positions in meme-themed tokens within the Solana ecosystem. On April 26, blockchain analytics firm Lookonchain highlighted the activities of an investor known as paulo.sol. The crypto wallet managed to profit from meme token projects like Dogwifhat (WIF), Jeo Boden (BODEN), and Bonk (BONK).
This Investor Caught Attention
The investor made purchases of BONK as early as November 11, 2023, and bought tokens after noticing the memecoin project’s rise. The investor then engaged in trading, buying low and selling high, and made approximately $6.28 million from BONK trading.
Meanwhile, the investor also followed WIF and BODEN. When these tokens first went online, the Solana memecoin owner did not immediately buy tokens. However, the trader began buying aggressively once they showed an upward trend, starting to purchase WIF on December 4, 2023, and then initiating BODEN trading on March 6. The investor made a total of $9.51 million from WIF transactions and $7.04 million from BODEN.
Meme Coin Frenzy in the Solana Ecosystem
Overall, the investor made over $22.83 million by trading in Solana-based meme token projects. Although the investor had already made millions, as of the time of writing, they still held $7.6 million worth of BODEN tokens and $5.7 million in WIF.
In addition to these memecoin assets, the investor also started targeting other memecoin projects and conducted purchase transactions in memecoin projects like PUPS and POPCAT. The investor spent $1.77 million on POPCAT and nearly $6 million on PUPS, becoming one of the biggest owners in the Solana ecosystem.
Community members praised the investor for their impressive moves. One X user mentioned that the investor was not just lucky but had more faith than others. Another user said the investor had diamond hands, a term used to describe crypto investors who can hold tokens under pressure.
This investor is one of many who profited from the Solana memecoin craze. On December 29, another investor turned a mere $62 investment in a SOL-based meme token into a $2 million fortune. On April 3, another capitalized on the ongoing memecoin frenzy, turning $13,000 into $2 million in just one hour.
