Trader Earns $7 Million in Three Hours on SAVM Token
An unidentified trader quickly seized an opportunity with the #SatoshiVM (SAVM) token, earning a profit of $6.77 million within three hours of its launch, as highlighted by Lookonchain analysts. Using the Banana Gun Telegram bot, the trader automated the purchase at the token's inception and later sold it at the maximum price.
Initially, the investor deposited 277.66 ETH (approximately $681,000) to acquire 2.61 million SAVM. The commission to secure a priority position for purchasing the token amounted to 141.66 ETH (around $347,000).
Subsequently, the trader sold 2.16 million tokens for $4.38 million and currently holds 450,000 SAVM valued at slightly over $3 million.
Some users speculated that the trader might have been an insider or a project developer. Others hailed the trader as a "legend" for the bold move of depositing a substantial sum into a trading bot.
#BananaGun continues to stir controversy within the community. Several Redditors reported fund disappearances after entrusting them to the "sniper" bot, similar to the one used by the fortunate SAVM trader.
In September 2023, the launch of the native Banana Gun token failed due to a smart contract bug, causing a nearly 100% collapse in the coin's value.
Recall, in January, an unknown user managed to earn $1 million on the meme token TROLL. The trader purchased the cryptocurrency after billionaire Elon Musk changed his X-account signature to "(CTO) Chief Troll Officer.
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