A crypto dealer has raked in additional than $1.4 million in revenue inside 5 days by buying thousands and thousands of Dogwifhat (WIF) tokens, a dog-themed meme coin on the Solana community.
In keeping with a tweet by blockchain evaluation platform Lookonchain, the dealer started their WIF journey by buying $226,000 price of the tokens after they had been launched on Solana.
Because of the token $WIF, this dealer turned $226K into $1.69M in 5 days.
This dealer purchased 19.86M $WIF between Dec 13 and 15 at a mean value of $0.01137.
The 19.86M $WIF is now price $1.69M, making ~$1.47M in 5 days.https://t.co/7QxZwvbzBA pic.twitter.com/xsBBOivbhW
— Lookonchain (@lookonchain) December 18, 2023
$226K to $1.69M in 5 Days
Between December 13 and 15, the dealer bought greater than 19.86 million WIF at a mean value of $0.01137. On the asset’s present value of $0.1078, the stash is price over $1.69 million, raking in roughly $1.47 million in revenue inside 5 days.
WIF has witnessed a major surge since its launch on the Solana community. Throughout the previous week, the token has soared by greater than 840%, elevating its market cap to tens of thousands and thousands of {dollars}.
The token’s surge comes because the Solana community is abuzz with a brand new wave of curiosity in different cryptocurrencies, together with meme cash like Bonk (BONK) and the Solana Saga telephones. BONK, one other dog-themed token, has additionally witnessed a mind-blowing surge. Since its launch, the meme coin has soared greater than 17,500%, per data from CoinMarketCap.
Two weeks in the past, BONK rose to turn out to be one of many largest meme cash by market capitalization, alongside different dog-themed tokens like Shiba Inu and Dogecoin.
Solana Telephone Gross sales See Surge
CryptoPotato reported that the BONK hype and surge had pushed the gross sales of the Solana Saga telephones previous the unique retail value of $599. As of December 16, two Saga telephones had been bought for $5,000 on eBay, whereas one other bought for $3,316. About 20 extra devices bought for greater than $2,000 over the weekend.
The rise in cellphone gross sales could be attributed to an introduced airdrop of 30 million BONK supplied solely to customers who obtain the Bonk app by way of the Saga cellphone dApp retailer. Whereas the Saga telephones skilled low gross sales initially, they’ve been bought out on the official web site for the reason that airdropped BONK turned more valuable than the units’ value.
In the meantime, Saga cellphone house owners additionally anticipate extra airdrops and monetary incentives from initiatives within the Solana ecosystem.
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