Crypto Trader Turns $9,770 into $10 Million in One Day Trading This Newly Launched Solana (SOL) Token

An anonymous cryptocurrency trader managed to turn an initial investment of just $9,770 into $10 million in a single day. The trader achieved this astronomical gain by acquiring a massive amount of a new Solana-based token called GUMMY at the very moment it was launched.

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The details of this lucrative trade were revealed by the on-chain data analysis platform Lookonchain. According to their findings, the trader withdrew 65.23 SOL (approximately $9,770 at the time) from the crypto exchange MEXC just 12 minutes before the GUMMY token was deployed on the Solana blockchain.

In the same block where the GUMMY deployer added liquidity to decentralized exchanges, the trader spent 64.5 SOL (around $9,769) to purchase an enormous quantity of 97.36 million GUMMY tokens. This acquisition occurred right at the token’s launch, allowing the trader to obtain the tokens at their initial pricing.

Instead of immediately selling the GUMMY tokens, the trader transferred the entire 97.36 million token holding to 10 separate wallets, essentially diversifying their position. As of now, the 97.36 million GUMMY tokens are currently valued at approximately $10 million, representing a staggering 1,025 times increase from the initial $9,770 investment in just one day.

The Lookonchain analysis raises questions about whether the trader had insider knowledge of the GUMMY token launch or if they were simply an extremely well-timed “sniper” trade. Sniper trading refers to the practice of carefully monitoring new token launches and executing trades at the precise moment liquidity is added to capture the best entry prices.

Regardless of the specifics, this extraordinary trade highlights the potential for massive gains in the highly volatile and speculative world of cryptocurrency trading, particularly when it comes to newly launched tokens on popular blockchains like Solana.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

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