Hereâs the Memecoin Behind the 993x Rise
A crypto whale has accomplished something incredible, according to a report by analysts at cryptocurrency data provider Lookonchain. The wallet named sundayfunday.sol turned the memecoin called 1DOL into $2.26 million, after investing only 13 SOL, or $2,275, last night. This resulted in a 993x profit in just 8 hours.
However, this isn't the first time this whale wallet has made such transactions. According to on-chain data, sundayfunday.sol is also associated with BOME, a memecoin that has seen significant hype and currently has a market value of $780 million. sundayfunday.sol participated in the #BOME pre-sale with the largest amount of assets, spending 421 SOL, or $72,000. The whale wallet received a total of 1.43 trillion #BOME tokens, which reached a peak value of $40 million.
At the time of writing, BOME is trading 59% below its all-time high. The sundayfunday.sol wallet sold 530 billion #BOME for $7.66 million in transactions made after the BOME launch. Despite this, the whale wallet remains the largest holder of this altcoin, with 894 billion BOME tokens worth $10.5 million.
Although the sundayfunday.sol wallet has been fortunate, itâs important to remember that the majority of cryptocurrency users in memecoins lose significant amounts of money.
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