BasEx News | Solana Trader's $60 to $2 Million Meme Token Success
Solana Trader Turns $60 into $2 Million with a Single Meme Token
03.01.2023
Solana Trader Turns $60 into $2 Million with a Single Meme Token

An unknown trader managed to earn $2 million in just 22 days on a single deal with the meme-coin Silly Dragon (SILLY), having invested 1 SOL (~$62 at that time).

According to on-chain data, the user noticed the coin within 5 minutes of its trading start and bought 43.1 million SILLY for 1 SOL.

Just over three weeks later, he sold 33.34 million SILLY for $528,000 in the stablecoin USDC — an increase of approximately x21,715.

His wallet still holds 9.01 million SILLY, worth about $1.26 million, making the trader the ninth-largest holder of the asset.

In the comments under Lookonchain's post, some speculated that the lucky user could be the project developer himself. Others suspected the user of insider trading.

Silly Dragon appeared on November 8 following a post by Solana co-founder Anatoly Yakovenko, which read: "year of the silly dragon."

This was likely a reference to the developer's Halloween costume at the Solana Breakpoint 2023 conference in Amsterdam.

On the Silly Dragon website, it is stated that Yakovenko's post "brought fresh and playful energy to the Solana narrative." However, the meme-token team warned that the coin is intended solely "for entertainment and educational purposes," and its founders are not responsible for any losses.

Previously, another trader managed to earn $5.7 million on the coin ANALOS, having invested 30 SOL (~$2200 at that time), achieving a total asset growth of x2570.

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