The trader has been chronicling his journey in detail on social media platform X (formerly Twitter). Starting with a single SOL token worth around $150, they made a solid bet on the coin, which has been steadily rising in value.
On day 130 of their journey, the trader shared a screenshot showing their wallet balance at $498,286.5, after growing by over 15.7%. Back in May, when their wallet balance was around $45,000, they revealed that they had just $100 in their bank account, but held a single coin that represented their entire portfolio.
Many traders have made millions of dollars from their investments in memecoins this year. A trader known as “sundayfunday.sol” turned a $72,000 investment into $30 million in just three days by trading an obscure cryptocurrency.
A patient trader reportedly turned about $8,600 into more than $1.26 million after investing in an obscure cryptocurrency and holding it for two months for a 144x return.
The trader’s profit comes after another trader converted 500 SOL tokens worth about $67,000 into 5,789 SOL worth more than $780,000 in just 15 minutes, after “hunting” a large portion of the newly launched cryptocurrency’s supply.
However, there have been significant losses as well. A Solana trader lost $37,000 investing in memecoin due to emotional trading. It should be noted that memecoin is extremely volatile and speculative, and while stories of successful trading often stand out, stories of failures are often forgotten.
