A trader on the Solana (SOL) network missed out on a potential windfall of nearly $1 million after selling a newly launched frog-themed memecoin too soon. The trader, known as “shatter.sol,” invested 50 SOL in the Solana memecoin called Book of Meme (BOME) and purchased around 170 million tokens. They sold the tokens for $131,000 before the price of BOME skyrocketed.
However, the price of BOME continued to rise significantly. On March 15, the token reached a high of $0.005833, resulting in a market capitalization of over $320 million. If the trader had waited just one more day to sell, their 170 million tokens would have been worth approximately $993,000.
Opinions among onlookers were divided. Some believed the trader had missed out on a golden opportunity, while others saw their profit as a success. Meanwhile, influencer Moataz Elsayed, also known as “Eljaboom,” claimed to have witnessed a wallet address turn 420.69 SOL into $5.7 million in just 48 hours.
The Book of Meme project was created by an anonymous art producer known as Darkfarms, who was surprised by the overwhelming participation in the memecoin’s presale. The founder had not expected such high numbers for an experimental project with an unconventional allocation.
In November 2023, the Solana ecosystem experienced a surge of interest, leading to an 80% increase in the token’s price. This was followed by a frenzy of Solana memecoins, including Bonk, Dogwifhat, and Silly Dragon, which all saw significant gains.
Overall, while one trader missed out on potential millions, others in the crypto space had more luck with their investments in the memecoin. The Book of Meme project continues to attract attention and is being closely watched for future developments.