Here’s How This Solana Trader Made $200K with $1.5K In 5 Mins

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As a crypto investor with a few years of experience under my belt, I can’t help but be impressed by the story of the Solana trader who made $200,000 in profits within minutes. Timing is indeed key in this market, and it seems that the trader was able to capitalize on the right opportunity at the right time.

A trader successfully cashed in on timing in the cryptocurrency market, raking in a substantial $200,000 profit within a short span of minutes. This noteworthy event was shared by Lookonchain, a reputable provider of real-time data, news, and analytics, through a recent post. According to the post, a skilled Solana trader made a strategic move using 9 Solana tokens valued at approximately $1,470, resulting in impressive 137x returns within an astonishingly brief 5 minutes.

So, in this blog, let us discuss how the Solana trader did it.

TOBI Investment Created $202K For Solana Trader

According to Lookonchain’s data, a trader bought 9 Solana (SOL) tokens and used them to purchase Moto Dog (TOBI) cryptocurrency. Shortly after, TOBI experienced a sharp price increase. At the time of transaction, the value of 9 SOL was equivalent to approximately 28.58 million TOBI tokens, which represented a substantial proportion of TOBI’s total supply. Within just five minutes, the value of TOBI surged by a factor of 137, resulting in the trader holding over 1,238 Solana tokens worth of TOBI.

With this significant increase, the initial investment of $1,470 grew to an impressive $202,000. Acting swiftly before the market tightened up, the Solana trader successfully sold all their TOBI holdings within a mere 5 minutes, pocketing a profitable gain of $201,000.

Meme currency named Moto Dog (TOBI) entered the market with a vast supply of 999,998,494.57 coins. The current price is at $0.002916, and its market cap amounts to an insignificant 0.00001811 SOL. Initially valued at $200K, the 28.58 million TOBI tokens have dropped significantly to a mere $83K.

Solana Network Has Become The Profit Hub

Large-scale earnings from the Solana network are not a novelty, given that historical occurrences exist where investors successfully capitalized on profits generated through investment in Solana’s meme coins.

Previously, a savvy trader raked in a substantial profit of $3.2 million within a mere 12-minute timeframe following an investment in the meme coin SLERF on the Solana platform. With an initial investment of $1.98 million, this trader managed to amplify their wealth to a staggering $5 million. In the process, they exchanged 9,894 Solana (SOL) tokens for approximately 69.74 million SLERF coins. Another proficient Solana trader amassed a profit of $2 million within a few hours, starting with an investment of $49,000 to acquire 261.4 million TORI tokens.

There have been numerous instances where the price surge of Solana meme coins has sparked debates over whether they were the result of insider trading or just plain luck. Regardless of the cause, a select group of traders with extensive experience in the market have managed to reap substantial profits from these events.

Despite the ongoing hype surrounding Solana’s network, its native token, SOL, hasn’t fully mirrored the excitement. The price of SOL took a downturn several days ago but showed signs of improvement today, currently trading at $167.63 following a 21% increase in value this month. However, it remains to be seen how resilient Solana and its related meme coins will perform once the market recovers from the current bearish sentiment.

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2024-05-17 14:08