Meme coins on the Solana blockchain witnessed a rollercoaster journey after a surge in December, notably with $Bonk token grabbing attention with a staggering thousand percent increase. However, following its peak, $Bonk faced a substantial decline, plummeting over 100%.
In a positive twist, $Bonk has shown signs of recovery, marking an impressive 24% increase in the past 24 hours. Notably, the recent listing of BONK on OKX, a prominent international cryptocurrency exchange, adds a layer of significance to the coin. This move is expected to enhance BONK’s visibility, drawing in more investors, particularly from the Solana ecosystem.
Traders Make Notable Profits From $BONK Price Surge
Recent on-chain reports unveiled the activities of a savvy trader who realized a profit of $6.9 million on $BONK. Today, the trader reinvested 386 $SOL ($40,000) to acquire 3.29 billion $BONK. Over the course of nine months, this trader accumulated an impressive 371.4 billion $BONK at a cost of only 6,998 $SOL ($276,000).
This smart trader who made ~$6.9M on $BONK spent 386 $SOL($40K) to buy 3.29B $BONK again today!
He accumulated 371.4B $BONK in 9 months at a cost of only 6,998 $SOL($276K) and sold half of the $BONK during the $BONK surge for 50,139 $SOL($5.2M).https://t.co/pOFRD2ndI8 pic.twitter.com/lkgGm13G0e
— Lookonchain (@lookonchain) January 9, 2024
During the surge in $BONK value, the trader wisely sold half, reaping 50,139 $SOL ($5.2 million) in return. As of now, the trader proudly holds 189.67 billion $BONK, valuing at $2.37 million.
This trader’s strategic moves exemplify the dynamic nature of meme coin trading within the Solana blockchain, showcasing the potential for substantial gains and well-timed reinvestments. As $Bonk stands resilient amidst the market fluctuations, the Solana meme coin landscape continues to be a captivating domain for both traders and observers.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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