A meme coin dealer has reportedly cashed out over $22 million in earnings from a number of positions in meme-themed tokens on the Solana blockchain.

In response to blockchain evaluation agency Lookonchain, the actions of a dealer recognized as “paulo.sol” on the Solana Identify Service account have been flagged on April 26.

Meme Coin Dealer Income Over $22 Million

The meme coin dealer achieved worthwhile outcomes from property like Dogwifhat (WIF), Jeo Boden (BODEN), and Bonk (BONK).

They initiated their funding in BONK as early as November 11, 2023, after observing its upward trajectory. Using a method of buying throughout downturns and promoting throughout peaks, they executed swing trades, leading to an accumulation of roughly $6.28 million in earnings from buying and selling BONK.

What a legend!😱

paulo.sol has realized earnings of $9.51M on $WIF$7.04M on $boden and $6.28M on $BONK.

1/ Let’s dig into his trades to see what he’s shopping for.👇 pic.twitter.com/2axUwHb3el

— Lookonchain (@lookonchain) April 26, 2024

Recognizing the potential in WIF and BODEN, the dealer didn’t enter these tokens at launch however began accumulating them throughout upward actions. They bought WIF on December 4, 2023, and initiated BODEN trades on March 6. In consequence, the dealer realized earnings of $9.51 million from WIF trades and $7.04 million from BODEN transactions.

They obtained roughly $22.83 million from flipping Solana-based meme tokens. Whereas vital earnings have already been secured, the dealer at the moment has $7.6 million in BODEN tokens and $5.7 million in WIF.

Moreover, the dealer expanded their meme coin portfolio by investing in extra tokens. They allotted $1.77 million to POPCAT and almost $6 million to PUPS, subsequently changing into the most important holder of PUPS on the Solana blockchain.

Merchants Capitalize on Solana Meme Coin Frenzy

Group members have applauded the dealer for the spectacular strikes within the crypto market. One consumer famous that the dealer’s success was not merely luck however moderately an illustration of their unwavering perception in comparison with others.

One other consumer recommended the dealer for exhibiting “diamond” fingers, a time period used to explain merchants who can preserve their positions even in difficult market situations.

The dealer is amongst many who’ve profited from the Solana meme coin frenzy. On April 3, one other dealer turned $13,000 into $2 million inside one hour. On this case, they bought 499.9 million MOEW utilizing 4 Ether simply 10 minutes after MOEW was listed on decentralized exchanges (DEXs). Lower than an hour later, they bought 111.65 million MOEW for 99 ETH ($328,000) and have been left with 388.24 million MOEW.