#TrendingTopic Savvy Solana trader turns $6,000 in SOL into millions in realized profits through WIF trades
According to Arkham Intelligence, a savvy trader has capitalized on the Solana meme coin Dogwifhat (#WIF ) frenzy, generating 33,000% returns on his Solana investment.
In a new tweet, Arkham Intelligence spotlights onchainclown, a #solana✈️ trader who has traded dozens of meme coins over the past two months. The trader was able to turn $6,000 in #sol into millions in realized profit, growing his $SOL investment by 330 times.
Elite Trader Analysis: 330x on Solana
It’s Solana season - again.
With WIF breaking above a $1B valuation, let’s flashback to one of the traders we looked at almost 2 months ago.
onchainclown.sol previously made $1.35M in profit from $6K - now he’s up to over $2M. https://t.co/74jQQl7yCl
— Arkham (@ArkhamIntel) March 2, 2024
Onchainclown’s best performance so far has been on the coin WIF. The savvy trader made a buy-in of only 102 SOL, around $6,000 at the time, and is now up $2 million in total profit as WIF surpasses the $1 billion market capitalization.
The Solana trader bought WIF around two weeks after it was deployed on-chain, managing to acquire 2.6% of the supply. Two months after the purchase, he gradually sold off his WIF, generating gains of approximately 9,140 SOL or $880,000.
The trader still holds significant amounts of WIF across his accounts for a total profit of $2 million, representing a return of more than 330x on his initial investment of 102 SOL.
Dogwifhat, a dog-themed meme coin released on the #SolanaBlockchain over three months ago, has emerged as the clear winner of the latest rally.
WIF reached a remarkable all-time high of $1.77 in today's trading session, overtaking tokens such as Floki ($FLOKI ) to become the third largest dog token behind Dogecoin and Shiba Inu. WIF has joined the top 100 cryptocurrencies by market capitalization, ranking 58th with a market value of $1.74 billion.
The market for dog coins has expanded rapidly since the beginning of March 2024. At the time of writing, WIF had risen 37.92% in the previous 24 hours to $1.75. The token has increased by 438.69% in the last seven days. Speculations that Dogwifhat has been quietly listed on Robinhood's European crypto trading platform have also contributed to its weekly price increase.