The recent surge in memecoins has seen a trader, identified on-chain by the alias “sundayfunday.sol,” turn a $72,000 investment into a staggering $30 million within just three days trading a little-known cryptocurrency.
According to on-chain analysis service Lookonchain, “sundayfunday.sol” bought the meme-inspired cryptocurrency Book of Meme (BOME), launched on the Solana blockchain last week, through its pre-sale, spending 421 SOL tokens to become its largest pre-sale participant.
As a result, the trader received 1.43 billion BOME tokens and after the price of the meme-inspired cryptocurrency skyrocketed, they realized some of their gains by selling 190 million BOME for 19,646 SOL, while maintaining 1.24 billion tokens in their wallet.
The price of the meme-inspired cryptocurrency skyrocketed as it was listed on several major cryptocurrency exchanges including Binance and KuCoin. As CryptoGlobe reported, BOME initially surged over 3,000% before correcting, allowing another cryptocurrency trader to take advantage of its rise by betting 50 $SOL, worth around $9,000, in the cryptocurrency, to profit over $120,000 out of it.
The newly launched cryptocurrency Book of Meme ($BOME) was created by crypto artist Darkfarms and aims to establish a permanent digital archive for memes. The project, launched on March 10, envisions a multifaceted platform encompassing a regularly updated digital magazine, meme creation tools, and a library of memes categorized under a Creative Commons Zero license (CC0).
Darkfarms, known for their contributions to the Pepe meme universe through the non-fungible token (NFT) series like SMOWL, conducted a 24-hour presale of BOME on Solana. Unlike traditional token sales, the price wasn’t fixed and instead, the allocation of BOME tokens was determined by the proportional contribution of SOL by each participant.
The presale surpassed Darkfarms’ initial expectations, raising over 10,131 SOL, nearly double the anticipated amount.
Featured image via Pixabay.
