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A leading meme coin trader is cashing out millions in profits after buying WIF, BODEN, and BONK, but on-chain data shows he’s buying these two tokens now.
Opportunity only favors the brave, and there are many success stories in crypto and the meme coin scene.
From the first adopters of Bitcoin and investors of Ethereum to those who took time and aped all in on Solana when everyone thought it was going to zero.
If anything, holders of SOL were rewarded with free tokens, including BONK, as a way of consolation after the “destruction” of late 2022.
Surprisingly, the meme coin recorded stellar gains in H2 2023.
Discover: Next Cryptocurrency to 1,000x Skyrocket
Q2: Meme Coin Trader Cashing Out Big Money
It is now emerging that one shrewd SOL trader, Paulo.sol, has cashed out millions on popular meme coins, including BONK, and is setting their sights on new potential winners.
According to Lookonchain data on April 26, the trader cashed out $9.51M from WIF, $7.04M from BODEN, and another $6.28M from BONK.
These mega gains weren’t by luck but earned hard through risks and bravery. The trader has a knack for spotting trending meme coins early.
Going by his trades, the trader picked out BONK as early as November 11, 2023. Considering how it was trending, rising in tandem with SOL, the trader accumulated at lows before selling at highs for a hefty profit.
WIF and BODEN followed a similar pattern. While Paulo Sol didn’t buy them at launch, their gains in December 2023 (WIF) and March 2024 (BODEN) opened up sweet entries.
This calculated approach is paying off handsomely. So far, the trader holds 12.87 million BODEN worth $7.6M and 1.87 million WIF worth $5.7M.
The Bottom Line Keep Your Eyes On These Gems
Though the account is neck-deep in profits, the trader is not resting.
Based on recent transactions, the trader appears to be buying PUPS and POPCAT meme coins. The account spent $1.77 million to buy 4.3 million POPCAT at $0.42.
At the same time, he purchased 101,712 PUPS for $5.97 million.
Now, he is one of the largest holders of PUPS and POPCAT.
Whether these tokens will rally and reward him with big gains like BONK remains to be seen.
Still, though meme coins are popular, a venture capital executive has been dismissive, saying these tokens don’t inspire confidence from a regulatory perspective.
EXPLORE: Is BTC Set for a Quiet Spring After Bitcoin Halving Event? Here’s Why Traders Eye Altcoins in Q2
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
