A trader bought 1 SOL worth of a new Solana meme coin called Pochita. A day later, it's worth $450,000âand they're still holding.
A buyer of a new Solana meme coin called Pochita turned $140 into $450,000 in less than 24 hoursâand they still havenât sold the bulk of the coins.
The coin emerged (and surged) after the owner of the meme-famous dog that originally inspired Solanaâs BONK coin adopted a new furry friend called Pochita on Wednesday. The news prompted various crypto degens to create a plethora of meme coins inspired by the pupâand unlike in the so-called Neiro civil war, one token quickly emerged as the winner.
One unidentified trader, using a wallet starting with âAjwF,â bought 1 SOL ($140 at the time) worth of the token just over a minute after it was launched on Pump.fun. They were the 19th person to purchase over 0.05 SOL ($7) worth of this particular Pochita coin, making a relatively big bet on the nascent token.
Interestingly, the trader had already bought and sold two previous Pochita tokens just seconds before identifying the big winner. The trader continued buying and selling coins, including more Pochita tokens, but for some reason held onto this token amid the initial frenzy.
Nearly 24 hours later, the held Pochita token has climbed to a market cap of $22 million, while the discarded tokens failed to make it off the ground. As a result, the initial 1 SOL purchase is now worth over $450,000, according to DEX Screener, after AjwF sold just $450 worth in the hours since the initial buy. This makes the trader the largest holder of Pochita with 2.18% of the supply.
Blockchain analytics visualization company Bubblemaps told Decrypt that there are no immediately noticeable on-chain links between early buyers, and that most have already sold their bags amid the rise. This is often a sign that the token is not controlled by insiders, although the firm warned it cannot be 100% sure at this stage.