A Solana cryptocurrency trader, known only by their wallet address “shatter.sol,” missed out on a massive opportunity. They invested $8,000 into a newly launched frog-themed memecoin called Book of Meme (BOME) by purchasing 50 SOL worth of tokens, which equated to around 170 million BOME tokens.
However, they sold their tokens for $131,000 before the price skyrocketed. If they had waited just one more day, their tokens would have been valued at nearly $1 million as BOME’s price surged from $0.00005848 to $0.005833, with a market capitalization exceeding $320 million.
Mixed Reactions to Solana Memecoin Trader’s Move
Opinions within the crypto community were divided following the trade made by the Solana cryptocurrency trader, shatter.sol. One user on X (formerly Twitter) criticized the trader, suggesting they “fumbled” generational wealth by selling too soon. However, another user took a more pragmatic view, arguing that “profit is profit.”
While shatter.sol may have missed out on significant gains, other traders saw substantial returns. Influencer Moataz Elsayed, also known as “Eljaboom,” claimed to have witnessed a wallet address turn 420.69 SOL (valued at $80,000) into $5.7 million in just 48 hours. This remarkable return matched a presale investment from an anonymous trader named Sunday Funday, who claimed to be the largest token holder.
The Unpredictable World of Solana Memecoins
The Book of Meme project was initiated by a pseudonymous art producer known as Darkfarms, who was surprised by the high level of participation in the memecoin’s presale. Darkfarms admitted to not anticipating such significant interest in what they described as an experimental project with a “weird allocation.”
Looking ahead, Darkfarms mentioned that the project’s next step would involve observing and developing a strategy for creating pools with strong liquidity. The surge in interest in the Solana ecosystem in November 2023, which led to an 80% increase in SOL’s price, sparked a frenzy of Solana memecoins, including tokens like Bonk, Dogwifhat, and Silly Dragon, all of which experienced substantial gains.
While the Solana memecoin market has proven lucrative for some, it has also led to missed opportunities for others. The story of shatter.sol serves as a cautionary tale, highlighting the unpredictable nature of cryptocurrency trading and the importance of timing in capturing potential gains. As the market evolves, traders are advised to exercise caution and diligence in their investment decisions.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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