Crypto Trader Paulo.sol Earns $23 Million from Solana Meme Coins

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As a seasoned crypto investor with a knack for spotting promising assets, I’ve been closely following the recent success story of a fellow trader in the community, known as Paulo.sol. His recent massive profits from trading Solana-based meme coins like Dogwifhat (WIF), Joe Boden (BODEN), and Bonk (BONK) have left me impressed and inspired.

A large-scale crypto investor, going by the alias Paulo.sol, has significantly sold off his holdings of meme coins built on the Solana blockchain, namely Dogwifhat (WIF), Joe Boden (BODEN), and Bonk (BONK). This transaction yielded approximately $23 million in gains for the trader.

On Friday, Lookonchain, a prominent blockchain analysis firm, announced via X (previously known as Twitter) their findings on a significant cryptocurrency transaction. The unnamed investor or “whale” gained approximately $9.51 million through trades involving WIF, made another $7.04 million from transactions with BODEN, and earned an additional $6.28 million from deals with BONK.

Mastering the Flip

Paulo’s journey to financial gain began in November the previous year. Seizing the opportunity, he identified the increasing worth of BONK and made an investment. Subsequently, he initiated the practice of purchasing tokens at a lower price point and subsequently selling them for a higher return. By employing this strategy, Paulo amassed a profit of approximately $6.28 million from his BONK transactions alone.

In the upcoming month, specifically on December 4, 2023, the trader discovered another lucrative chance with WIF. He came across the token during its initial launch and patiently waited for it to turn a profit.

Based on information from Lookonchain, this individual correctly identified BODEN as a promising asset on March 6, 2023, and successfully invested in it during its price rise.

During this time, BODEN underwent a stunning growth spurt. In a mere six hours, there was a phenomenal rise of 830%, and within 24 hours, the increase reached an astounding 2431%.

As an analyst, I closely kept tabs on the price movements of both BODEN and WIF, and once they exhibited significant price surges, I took the opportunity to cash out my investments.

Crypto Whale Continues to Invest in Memes

At present, Paulo.sol possesses a total worth of around $13.3 million from his crypto assets. This includes 12.87 million BODEN valued at approximately $7.6 million and 1.87 million WIF valued at about $5.7 million. Recently, there are signs that Paulo.sol is exploring investment opportunities in other memecoins residing within the Solana network.

According to Lookonchain’s report, a trader bought approximately 4.3 million POPCAT tokens priced at around $1.77 million, with each token costing around $0.42.

Around the beginning of this month, he allocated a significant investment of $5.97 million towards purchasing 101,712 units of a memecoin called PUPS, which are traded on Bitcoin (BTC) at approximately $59 per token since April 11. According to Lookonchain’s latest report, this recent acquisition has granted him the title of the largest holder of this digital asset on the Solana network.

Meanwhile, Paulo.sol is one of the many traders in the industry cashing out big on meme coins.

On the 16th of April, according to Coinspeaker’s report, an unidentified investor turned a $10,000 stake into a massive $5 million profit by trading in memes on Solana and Ethereum‘s scaling solution, Base.

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2024-04-26 15:24