A savvy trader has made a staggering 118,967% return on a Solana-based memecoin called dogwifhat (WIF). According to blockchain tracking firm Lookonchain, the trader purchased WIF in December 2023 and has made a series of strategic sales as the memecoin soared.
The trader bought 6.1 million WIF for $5,879 and has since sold 4.7 million for $1.57 million. They still hold 1.4 million WIF, worth $5.47 million. Their total profit on WIF is approximately $7 million.
Other Memecoin Profits
Lookonchain also reports that another trader has made six-figure unrealized profits by buying nearly 119,000 MAGA (TRUMP) in the past two weeks. The memecoin is inspired by former president Donald Trump. The trader has an unrealized profit of $540,000 on TRUMP.
A third trader has made a combined $41.38 million in profits trading WIF, Jeo Boden (BODEN), and Bonk (BONK). The trader sold 539,558 WIF for $2 million and has realized profits of $24.1 million on WIF, $11 million on BODEN, and $6.28 million on BONK.
