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Trader Earned $1.25 Million With This Solana Coin in 8 Minutes: How?

According to blockchain analytics platform Lookonchain, a crypto trader made a remarkable profit of 6,008 SOL worth around $1.25 million in just 8 minutes by sniping Solana coin BUZZ tokens. This profit highlights the exciting yet risky opportunities in the fast-moving crypto world. Lookonchain brought this impressive trade to light. In this context, it showed that the investor spent 82 SOL worth $17,000 to buy 268.12 million BUZZ tokens. This corresponded to 26.8% of the total token supply.
Someone made 6,008 SOL ($1.25 million) by snipping BUZZ in just 8 minutes This trader spent 82 #SOL ($17,000) to get 268.12 million BUZZ (26.8%) and paid a 49 $SOL transaction fee to make the initial purchase. Then, within 8 minutes, he sold all of the BUZZ for 6,090 SOL ($1.26 million) and made 6,008 SOL ($1.25 million).
However, to secure the first-mover advantage, the trader paid a 49 SOL transaction fee, making him one of the first to buy the tokens. Once the BUZZ tokens were purchased, the trader acted quickly. In just 8 minutes, he sold all of his holdings for 6,090 SOL, equivalent to $1.26 million. After eliminating the initial investment and transaction fees, the trader made a profit of $1.25 million.
Sniping in crypto means buying tokens quickly before others do, hoping to sell them at a higher price shortly after. While highly rewarding, it is a risky strategy that requires expertise and precise timing. Such trades underscore the evolving nature of the crypto market, where timing and strategy can yield extraordinary returns. However, due to the nature of the cryptocurrency market, the risk involved in such trades is also high, so investors and traders should proceed with caution.