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Solana Meme Coin Mania Continues As One Trader Turns $72K Into $30.2M

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The frenzy around Solana meme coins has helped one trader turn $72,000 into $30.2 million after buying the newly launched $BOME meme coin.

Book of Meme ($BOME) witnessed a massive price pump on Saturday after Binance announced its listing, and its market cap increased by nearly $1 billion within two days of trading.

A trader called Sundayfunday.sol made an initial investment of 420.69 SOL, worth $72,000 at the time, into BOME. The value ballooned to over $32 million within three days.

The trader took profits just before the meme coin tanked. BOME is down by 50% in the last two days to trade at $0.0137 at 06:25 EST.

Trader Makes $3 Million On SLERF Amid Developer Mishap

Another trader made $3.02 million within 12 minutes after buying Solana-based SLERF meme coin.

The trader spent $1.98M worth of SOL to buy the meme coin. He then sold his stash for $5 million after just 12 minutes, raking in a huge profit.

His trade comes against the backdrop of SLERF’s developer accidentally burning nearly all the token’s supply, losing $10 million. The burnt tokens were meant for presale participants.

“I burned the LP and the tokens that were set aside for the airdrop,” the developer said. “Mint authority is already revoked… I am so f_ing sorry.”

Despite the mishap, the price of $SLERF is up by over 50% in the last 24 hours to trade at $1.17 at 06:27 EST.

Ethereum educator Anthony Sassano is warning against investing in new meme coins amid the ongoing frenzy. According to him, the current “bidding Ponzi” trend is similar to what happened in 2022.

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