Solana

Influencer

<p>A <a href="https://www.cryptopolitan.com/tensor-governance-token-solana-blockchain/" rel="noopener noreferrer nofollow">Solana</a> cryptocurrency trader, identified only by the wallet address “shatter. sol,” missed the opportunity to turn an $8,000 investment into nearly $1 million after selling a newly launched frog-themed memecoin called Book of Meme (BOME) a day before its price skyrocketed.&nbsp;</p>
<p>The trader invested 50 SOL into BOME, purchasing around 170 million tokens, and later sold them for $131,000. However, had they waited just one more day, their tokens would have been worth approximately $993,000, as BOME’s price surged from $0.00005848 to $0.005833, reaching a market capitalization of over $320 million.</p>
<h2 class="wp-block-heading" id="community-split-on-trader-s-decision">Community split on trader’s decision</h2>
<p>Following the trade, opinions within the crypto community were divided. One user on X (formerly Twitter) criticized the trader, suggesting they “fumbled” generational wealth by selling too soon. However, another user argued that “profit is profit,” indicating a more pragmatic view of the trade.</p>
<p>While Shatter. Sol may have missed significant gains, but other traders saw substantial returns. Influencer Moataz Elsayed, known as “Eljaboom,” claimed to have witnessed a wallet address turn 420.69 SOL (valued at $80,000) into $5.7 million in just 48 hours. This impressive return matched a presale investment from an anonymous trader named Sunday Funday, who claimed to be the largest token holder.</p>
<h2 class="wp-block-heading" id="unexpected-success-for-a-book-of-meme">Unexpected success for a book of meme</h2>
<p>The Book of Meme project was launched by a pseudonymous art producer known as Darkfarms, who expressed surprise at the high level of participation in the memecoin’s presale. Darkfarms admitted to not expecting such significant interest in an experimental project with what they described as a “weird allocation.”</p>
<p>Looking ahead, Darkfarms indicated that the project’s next move would involve observing and developing a strategy for creating pools with strong liquidity. The surge in interest in the Solana ecosystem in November 2023, which led to an 80% increase in SOL’s price, sparked a frenzy of <a href="https://www.cryptopolitan.com/unibot-core-team-in-solana-deployment/" rel="noopener noreferrer nofollow">Solana</a> memecoins, including tokens like Bonk, Dogwifhat, and Silly Dragon, all of which experienced substantial gains.</p>
<p>While the Solana memecoin market has proven lucrative for some, it has also led to missed opportunities for others. The story of shatter.sol serves as a cautionary tale, highlighting the unpredictable nature of cryptocurrency trading and the importance of timing in capturing potential gains. As the market evolves, traders are advised to exercise caution and diligence in their investment decisions.</p>

Solana memecoin trader misses out on potential million-dollar windfall

Table of Contents

Cryptopolitan_News

Other articles published on Mar 15, 2024

This New DeFi Project Is All Set to Grow 30X in 2024, Analysts Compare Algotech Potential to MATI...

Ripple: Analyst Sets Ambitious XRP Target of $31

Top 5 Altcoin Could Explode by 118% After Bitcoin’s Big Breakout, Says Crypto Analyst

Kris Marszalek Advocates Long-Term Bitcoin Holding Amid Drop

Leancoin Update - March 2024

Crypto surge continues: DeeStream presale ignites Ethereum and Bitcoin markets

Join our free newsletter for daily crypto updates!