Crypto News– A cryptocurrency whale trader has made substantial profits by investing in a new meme coin called SMOLE within just 15 minutes of its trading debut.
Crypto Titan Rakes in 18,986 SOL with Strategic Bet on Rising Meme Coin SMOLE
According to reports, the whale acquired approximately 22.21 billion SMOLE tokens during its presale for 18,460 SOLs, the native cryptocurrency of Solana blockchain. Shortly after the token began trading, the investor sold their holdings for 37,446 SOL, realizing a profit of 18,986 SOL.
SMOLE Meme Coin Garners 30 Million Dollars in Presale Funding
According to data from CoinMarkCap, the current price of SOL stands at $190, translating the profits to $3.6 million.
Earlier this week, the developers responsible for creating SMOLE conducted a presale for the meme coin, raising 169,982 SOL, which amounted to approximately $30 million during the fundraising event.
This figure marked the most significant fundraising effort by any meme coin based on Solana to date.
Following the conclusion of the presale event, the developer known as Dekadente announced that the project would officially launch on March 18, 2024, without specifying a time. However, the token was ultimately issued on March 21. It became available for trading subsequent to its listing on various crypto exchanges, including HTX, Bitrue, XT.com, and Gate.io.
Shortly after its launch, SMOLE reached $0.0003639 within a few minutes. However, as of the latest update, it had retraced to $0.0001927.
Nothing New
Someone made 18,986 SOL in just 15 minutes 🤯 😲
— Elja (@Eljaboom) March 21, 2024
A trader spent 18,460 SOL to buy 22.21B $SMOLE just 1 second after it started trading
He then sold it for 37,446 SOL after 15 minutes, making a profit of 18,986 SOL pic.twitter.com/cXa8md0DUm
Meanwhile, the whale’s rapid accumulation of $3.6 million is just one of the many instances in the crypto world where investors swiftly amass wealth by backing certain coins.
During the previous bullish market, two brothers from the United States, Tommy (38) and James (42), found themselves millionaires overnight by investing in Shiba Inu’s SHIB. Their initial investment of $7,900 in 2021 skyrocketed, yielding an astonishing $9 million in profits.
Earlier this month, another crypto enthusiast capitalized on a golden opportunity, earning a remarkable profit of $3.02 million in a mere 12 minutes. This trader allocated approximately $1.98 million into a novel token named SLERF. Reports indicate that the trader acquired 69.74 million SLERF tokens, which translated into $5 million.
Just a few days ago, news broke of an anonymous trader who pocketed $8.9 million in profits within less than an hour of investing in a meme coin called Shroom. The trader invested roughly 6,000 SOL to acquire the digital assets, later selling them for 57,112 SOL.
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