He started buying the asset five hours after the start of trading

Trader increased investments by 1684 times on investments in the Solana-based meme token SC

29.03.2024 - 11:15

106

2 min

What’s new? Lookonchain analysts have discovered a deal that allowed the trader to increase his investments 1684 times in a short period and earn $2,1 million, initially having only $1247. Thus, he spent 6,6 native tokens of the Solana (SOL) blockchain to buy 33,6 million SC coins five hours after he started trading the asset.

Source: Twitter.com

What else is known? The SC exchange rate continued to rise, but the trader did not sell coins even when his unrealized profit reached 100x. He only sold 4,6 million SC for 768 SOL worth $145 000 when the gains exceeded 1000x.

To date, the trader has held 29 million SC, valued at $2 million.

SharkCat (SC) is a Solana-based meme token and uses a picture of a cat wearing a shark-shaped knitted hat as its mascot. It is based on the dogwifhat (WIF) meme token, which also appeals to Solana and uses a picture of a Shiba Inu dog wearing a knitted hat as its mascot. WIF ranks third among meme tokens on all blockchains and 41st in the overall cryptocurrency ranking with a capitalization of over $3,58 billion.

SC trades on the Solana-based decentralized exchange (DEX) Raydium, paired with SOL.

Three days earlier, another trader increased his investment 255 times in less than two hours on an investment in another “cat” meme token on Solana, cat in a dogs world (MEW).

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