A user with the address shatter.sol made a profitable investment by purchasing the BOME meme token on the Solana network. The trader earned over $100,000 in a day but missed out on a potential $1 million profit.

According to Lookonchain on-chain data, the trader bought 170.25 million Book of Meme (BOME) tokens for 50 Solana (SOL), equivalent to $8,500 at the time of the transaction. The following day, the assets were sold for 767 SOL, valued at around $130,000.

The token’s value surged from $0.00005 to $0.00671 within a day, marking a nearly 600% increase as per CoinMarketCap. This surge could have potentially earned shatter.sol around $950,000 if the tokens were sold at the higher rate.

One user referred to the deal as “fumbled generational wealth,” while another simply stated, “profit is profit.” Crypto influencer Elja highlighted another instance where an individual turned $71,500 worth of SOL into $5.7 million by purchasing 5.5 billion meme tokens.

Another user, Sunday Funday, shared their experience of purchasing BOME tokens for a similar amount in SOL and becoming the top holder. The growing popularity of meme coins has led to significant returns for early investors, with new meme coins like Dogwifhat (WIF) generating substantial profits.

The rise in network activity on Ethereum due to the meme coin craze resulted in transaction fees hitting a two-year high. During the first week of March, transaction fees on the Ethereum mainnet totaled $193 million.

As meme coins gain bullish momentum, early investors continue to see significant returns. For instance, a trader could have potentially earned over $23 million from the Dogwifhat (WIF) token if not sold before the bull run started, instead of selling it for $142,000.

Post Views: 4