Zinger Key Points
- A trader turned $5,000 into $1.8 million with one trade on dogwifhat, cashing in on the memecoin's month-long run.
- Traders on X are predicting further upside for WIF and BONK, defying the end of the already remarkable runs.
- Get New Picks of the Market's Top Stocks
An anonymous trader on X, RockeFeller.eth, lived up to his name by turning $5,000 into $1.8 million in one month with dogwifhat WIF/USD, a popular memecoin on Solana.
What Happened: The trader shared a photo of his wallet, suggesting he indeed cashed in on WIF's remarkable run to more than $300 million in market capitalization:
I bought my $wif for $5,000 one month back and just sold for $1,800,000. I am at a loss for words right now.
— RockeFeller.eth (@rockefellareth) January 15, 2024
Lets Change a life
1 person who retweets, follows me and turn on Bell will win 200 $SOL ($105,000) (yes, for real)
Alpha Call - @Tsukadogsol presale closing tmrw. 🧵👇 pic.twitter.com/lMhobZmDUq
This is not the first rags-to-riches story on Solana. Only a month ago, a trader made a healthy $4.4 million profit on a trade involving Bonk BONK/USD, another dog-related coin on Solana.
Why It Matters: The success story comes off the back of an impressive comeback from WIF.
The token bottomed at $0.056 on Jan. 6, only to put in a stunning reversal to $0.33 at the time of writing. This 600% increase in value prompted traders to ring in a potential change of the guards when it comes to dog coins. This trader put a target on the back of Dogecoin DOGE/USD and Shiba Inu SHIB/USD:
some bonk people don’t like wif
— blockgraze (@blockgraze) January 15, 2024
that’s fine
wif’s target is shib, bonk’s target is doge
two completely different markets
What's Next: Whether dogwifhat can really become a "kind of ultrasoundmoney of memecoins," as one X user put it, remains to be seen. Given how often and fast dog-related memecoins on Solana pump to multi-million dollar valuations, it might not be the last memecoin success story.
Photo: Shutterstock
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