A savvy crypto trader has managed to generate a staggering $77,000 in profit within just 11 days by trading meme coins on Solana’s layer-1 blockchain, according to data tracker LookOnChain. As meme coins gained increasing popularity among cryptocurrency investors in recent times, this trader took advantage of the trend and successfully traded 27 Solana meme tokens, resulting in gains on 21 of them. With a win rate of 78%, the trader accumulated a substantial profit.
However, it seems that the hype surrounding meme tokens has slightly subsided since the beginning of the year. For instance, Solana-based meme token BONK, which experienced a remarkable surge, is currently trending in the negative zone. Its price has been steadily declining and currently sits at $0.00001364, reflecting a 7.37% drop in the past 24 hours. Despite this, BONK still holds the position of the third-largest meme coin network, with a market capitalization of approximately $834 million.
Notably, Dogecoin (DOGE), the leading meme token, has been relatively stagnant in terms of price movement over the past week, experiencing a slight decline of 0.07%. Nevertheless, DOGE’s market capitalization remains dominant compared to other meme coins, standing at a remarkable $13 billion.
Similarly, the second-largest meme token by market cap, Shiba Inu (SHIB), has struggled to sustain an upward price trajectory. Although it has seen marginal gains over the past seven days, SHIB dropped by 2.61% in the last 24 hours.
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