"This trader has his own strategy, so you also know how to take advantage of opportunities."
Solana (SOL) emerged as one of the hottest cryptocurrencies in recent weeks when its price soared 775% last year, attracting investors to buy tokens based on the SOL chain.
In that series, a trader who made an initial investment of 4 SOL has managed to generate approximately 2,250 of the digital asset worth $245,000 in just five days.
Initially, the trader had seen a memecoin on the SOL blockchain called BORK, so he immediately used 4 SOL to buy 1.2 billion BORK then sold 888 million of those tokens to get 1,454 SOL.
It is reported that this action has taken effect when BORK increased by more than 600% during the recovery for memecoins on the SOL chain, so the trader now holds 311.4 million BORK worth almost 800 SOL.
The memecoin hype has sparked profit taking from early investors in the project who then take advantage of significant returns from their initial positions if the price climbs high.
As proof, there is another smart trader who traded 27 memecoins on the layer-1 blockchain in 11 days and 21 of them were profitable after which he made almost $77,700 with a winning rate of 78%.
Also last month, another SOL investor raised almost $2 million after investing in a memecoin featuring a strange dragon as its mascot called Silly Dragon (SILLY) for just 1.5 SOL.
As explained further, the trader exchanged 1 SOL worth $62 for 43 million SILLY tokens and over the next 22 days, SILLY, which reached a new high, had a market capital exceeding $123 million.
