According to data from onchain data provider Lookonchain, a crypto whale has pulled off a lucky trade by taking a big risk.
With the booming growth of memecoins in the Solana ecosystem, many traders try to catch up profits by becoming early buyers of newly launched memecoins. But usually, traders fail because a large number of these tokens fail to pump as expected.
However, this trader seems to have a good fortune. Data from Lookonchain indicates that the trader bought $110,000 worth of a memecoin called MANEKI and turned it into $8.72 million in just three hours.
He managed to buy 1.02 billion MANEKI just 27 seconds after its launch. With this purchase, he acquired 11.51% of MANEKI’s total supply.
The whale wallet later distributed the 1.02 billion MANEKI that were bought to 15 different wallets.
However, it is important to note that memecoins have no inherent value and are highly speculative assets that could pose considerable financial risk.
