The trader earned millions in profits by trading a memecoin that runs on the Solana network.

According to data from on-chain sources, a trader is experiencing significant gains on a memecoin based on Solana (SOL), which has increased in value 51 times since the beginning of the year.

Lookonchain, a company that monitors blockchain data, reported that a trader bought dogwifhat (WIF) in December 2023 and has seen a tremendous increase of 118,967% in profits by strategically selling as the memecoin’s value skyrocketed.

On January 10th, the stock WIF had a trading value of $0.069 and has now risen to $3.53, resulting in a significant increase of 51 times its original value.

According to Lookonchain, another trader has accumulated unrealized profits in the six-figure range by purchasing approximately 119,000 MAGA (TRUMP) memecoins during the last fourteen days.

In conclusion, Lookonchain reports that a skilled trader has earned a total of $41.38 million through trading in memecoins WIF, BODEN, and BONK.

BONK is currently priced at $0.00003445, showing a 6.6% decrease in the past 24 hours. In comparison, BODEN is currently valued at $0.30 and has experienced a 3.5% decrease during the day.

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