A single trader is reaping massive profits from a meme coin based on Solana (SOL), with on-chain data revealing a staggering 51x increase year-to-date. Lookonchain, a blockchain tracking firm, reports that this trader bought dogwifhat (WIF) in December 2023 and has since earned a gain of 118,967% by strategically selling the memecoin as its value skyrocketed. The trader initially spent $5,879 to acquire 6.1 million WIF, which is now valued at $23.7 million. By selling 4.7 million WIF successively, the trader has made a profit of $1.57 million, still retaining 1.4 million WIF worth $5.47 million. Overall, the trader’s profit on WIF amounts to approximately $7 million, showcasing a remarkable gain of 1,197x.

As of the time of writing, WIF’s price has risen from $0.069 on January 10th to $3.53, representing a gain of over 51x. Lookonchain also highlights another trader who has amassed six-figure unrealized profits after purchasing nearly 119,000 units of MAGA (TRUMP) in the past two weeks. Inspired by former president Donald Trump, who is once again running for president, TRUMP has hit a new all-time high on May 29th. This particular trader withdrew 1.16 million USDT from Binance and used 1.15 million USDT to acquire 118,671 TRUMP at an average price of $9.69. Currently, the trader holds an unrealized profit of $540,000 on TRUMP.

At the time of writing, TRUMP is trading at $13.91, marking an increase of over 1% in the last 24 hours. Lastly, Lookonchain reveals that a savvy trader has generated a combined profit of $41.38 million by trading WIF alongside two other memecoins, namely Jeo Boden (BODEN) and Bonk (BONK). On May 28th, this trader sold all 539,558 WIF for 11,708 SOL, equivalent to $2 million at a price of $3.70. The profits realized from WIF amount to $24.1 million, while BODEN and BONK have yielded $11 million and $6.28 million in profits, respectively.

BONK is currently trading at $0.00003445, experiencing a 6.6% decrease in the last 24 hours. On the other hand, BODEN is trading at $0.30, down 3.5% for the day.

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