đđ Bold Investment in Solana Memecoin Generates $800,000 Gain in Just One Hour! đđ
An astute investor recently caught the attention of the entire crypto community by making an impressive profit of $800,000 in just an hour after betting $8,500 on a Solana-based memecoin named âCTOâ.
According to Lookonchain, a blockchain analytics platform, this trader purchased over 256 million CTO tokens for 50 Solana (SOL). By being among the very first to invest in this memecoin, he was able to benefit from a spectacular surge in prices.
In less than 60 minutes, he managed to sell 227 million of these tokens to obtain 4,771 SOL, thus earning a net profit of $800,000. And that's not all ! This same investor also made a $104,000 profit with a $3,400 investment in another token called PFI.
Some observers believe he is a particularly lucky trader, while others suspect he may have inside information.
đ Major Memecoins Record Price Losses
While some are making fortunes, major memecoins are experiencing a significant decline. Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF), Bonk (BONK), and Floki (FLOKI) have all seen their prices drop in recent days.
For example, Dogecoin lost 10.38% of its value in a week, while PEPE saw a decline of 12.74%. WIF suffered the biggest loss, with a 26.79% devaluation. Additionally, FLOKI and BONK also saw their value decrease by more than 10%, with declines of 13.53% and 17.63%, respectively.
đ Shiba Inu Resists Despite Hacking at WazirX
Shiba Inu ($SHIB ) has been more resilient to market fluctuations, down just 6.51% over the past seven days. However, in July, the token suffered a 10% drop following a major hack at WazirX, an India-based cryptocurrency exchange.
On July 18, WazirX suffered a security breach that resulted in the theft of $235 million, including $100 million in SHIB tokens. Experts suspect that North Korean hackers may be behind this attack, with transaction patterns similar to those seen in other cyberattacks attributed to these groups.
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