A user on the SNS platform has earned more than $26 million by trading meme coins on the Solana blockchain. This success did not go unnoticed by the specialists from Lookonchain.

On November 11, 2023, paulo.sol drew attention to the increase in the price of the Bonk token (BONK) and invested in it. Subsequently, using a swing trading strategy, he earned about $6.28 million on changes in the exchange rate of this token.

On December 4, the same trader started trading the Dogwifhat (WIF) meme coin, and in March 2024, the same trader started trading Jeo Boden (BODEN). Both times, these were moments of a sharp rise in the memcoin rate.

As a result, the user earned a profit of $9.51 million and $7.04 million, respectively, on trading these coins, according to Lookonchain data.

According to Lookonchain, the trader still holds positions in BODEN for $7.6 million and in WIF for $5.7 million.

He spent $1.77 million on POPCAT and almost $6 million on PUPS, becoming the largest holder of the latter on the Solana blockchain.

One of the commentators noted that the success of paulo.sol is not accidental, but a consequence of his firm confidence and research in this area.

Another user saves the discussion in Lookonchain, probably as an example for their own trading strategies.

Analysts constantly pay attention to the success of traders during the growth of meme tokens, which raises concerns about the possible formation of a "bubble" in the market, according to some experts.

Recently, it was discovered that one trader earned $1.5 million in two days trading seven coins. The other one converted $9769 into $10 million on the new GUMMY token in just a day.