Solana Memecoin Trader Turns $226K into $1.6M in 5 Days

New Wave of Interest in Solana Ecosystem

The frenzy around Solana's memecoin, SOL, continues as a trader makes a staggering profit of over $1.6 million in just five days. The trader took a gamble on a dog-themed memecoin called Dogwifhat (WIF), purchasing over 19 million tokens between December 13 and December 15.

According to blockchain analytics firm Lookonchain, the trader bought the tokens at an average price of $0.01137. The current total value of the tokens is approximately $1.69 million, resulting in a profit of around $1.47 million.

Massive Gains for Solana-Based Memecoins

As interest in the Solana ecosystem grows, memecoins based on the network are experiencing significant gains. On December 8, a dog-themed memecoin called Bonk (BONK) became the third-largest memecoin by market capitalization, joining the ranks of Shiba Inu (SHIB) and Dogecoin (DOGE).

Bonk's price soared by 370% in the 30 days leading up to December 11, outpacing the growth of SHIB and DOGE, which saw increases of 20% and 35% respectively during the same period.

Solana Saga Phone Sales Benefit from Bonk Hype

The hype surrounding Bonk also had a positive impact on sales for Solana's mobile phone, Saga. Owners of the Solana Saga phone received a generous airdrop of 30 million Bonk tokens upon its launch. With the price of the memecoin rising, users seized the opportunity to profit by purchasing the phone and selling the tokens.

Overall, the Solana network is witnessing a surge in interest and activity, with memecoins like WIF and Bonk capturing the attention of traders and investors. As the popularity of these tokens continues to grow, it remains to be seen how the Solana ecosystem will evolve and whether it can sustain its current momentum.