Token

Silly Dragon

Million

<a href="https://bitcoinworld.co.in/smart-crypto-trader-turns-90-into-2-million-trading-silly-token/" title="Smart Crypto Trader Turns $90 Into $2 Million Trading $SILLY Token" rel="noopener noreferrer nofollow"></a>
<ul>
 <li>A smart crypto trader has turned about $90 worth of $SILLY token into over $2 million.</li>
</ul>
A cryptocurrency trader has managed to turn just 1.5 SOL, worth around $92 at the time they started trading, into more than $2 million in just 22 days for a gain of a whipping 21,715x after they traded a little-known Solana-based altcoin shortly after it started trading.
<a href="https://twitter.com/lookonchain/status/1739933829421506901?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1739933829421506901%7Ctwgr%5E32a77360fdba4bf2aa3f8a2d3f3436db00887cbe%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.cryptoglobe.com%2Flatest%2F2023%2F12%2Fsilly-or-smart-crypto-trader-turns-90-into-2-million-trading-solana-based-token%2F" rel="noopener noreferrer nofollow">According</a> to on-chain analysis service Lookonchain, the trader started trading $SILLY tokens just five minutes after they opened for trading, spending 1 SOL worth $62 to buy 43.1 million tokens right away.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Starting with only 1.5 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>($92), this trader made $2M in 22 days, a gain of 21,715x!<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f631.png" alt="😱" class="wp-smiley" style="height: 1em; max-height: 1em;">
 This trader spotted <a href="https://twitter.com/search?q=%24SILLY&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SILLY</a> 5 minutes after it opened trading and spent 1 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>($62) to buy 43.1M <a href="https://twitter.com/search?q=%24SILLY&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SILLY</a>.
 Then he sold 33.34M <a href="https://twitter.com/search?q=%24SILLY&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SILLY</a> for $528K, and currently has 9.76M <a href="https://twitter.com/search?q=%24SILLY&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SILLY</a>($1.5M) left,… <a href="https://t.co/ByY1Tpupah" rel="noopener noreferrer nofollow">pic.twitter.com/ByY1Tpupah</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1739933829421506901?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 27, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The trader then sold 33.34 million $SILLY for over $520,000 and is still holding onto 9.67 million tokens worth over $1.5 million, making them the eighth largest holder of the cryptocurrency.
Reacting to Lookonchain’s post on the microblogging platform X (formerly known as Twitter), several users suggested that this is a case of insider trading, potentially from a developer involved in $SILLY trading advantage of information related to its development pipeline and listing schedule.
Solana’s ecosystem has been booming as its price has been recovering from the collapse of cryptocurrency exchange FTX, whose founder Sam Bankman-Fried was a staunch supporter of, leading the token and its ecosystem to be affected by association. Bankman-Fried was recently found guilty on counts of wire fraud and money laundering.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/new-solana-memecoin-silly-dragon-silly-reaches-300-weekly-rise/" aria-label="“New Solana Memecoin, Silly Dragon (SILLY), Reaches 300% Weekly Rise” (Edit)" rel="noopener noreferrer nofollow">New Solana Memecoin, Silly Dragon (SILLY), Reaches 300% Weekly Rise</a>
Year-to-date, Solana’s price is up over 1,000% as a result of its recovery, with its ecosystem recently benefiting from its Saga smartphone, which once faced sluggish sales, selling out recently over a lucrative 30 million BONK token airdrop for each new owner of the phone.
Analysts <a href="https://bitcoinworld.co.in/wp-admin/post.php?post=58916&amp;action=edit" rel="noopener noreferrer nofollow">believe</a> SOL’s price may keep on rising, however, with a popular cryptocurrency strategist who has gained a large following on social media after accurately calling Bitcoin’s 2018 bear market bottom above $3,000, predicting a major surge for it in the near future.
As reported, a popular cryptocurrency trader&nbsp; has recently said he is “hyper bullish” on the smart contract platform Solana (SOL) going into 2024 after analyzing the cryptocurrency’s price against leading smart contract platform Ethereum (ETH).
The post <a href="https://bitcoinworld.co.in/smart-crypto-trader-turns-90-into-2-million-trading-silly-token/" rel="noopener noreferrer nofollow">Smart Crypto Trader Turns $90 Into $2 Million Trading $SILLY Token</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Smart Crypto Trader Turns $90 Into $2 Million Trading $SILLY Token

ItsBitcoinWorld

Other articles published on Dec 28, 2023

Ethereum jumps 8% in 24 hours post Buterin’s proposal

The five countries set to join BRICS next month

Argentina Offers Tax Incentives for Declaring Crypto Holdings

ChatGPT’s Price Forecast for Aptos, Meme Moguls, and Shiba Inu in Q1 2024

A New Offer Has Been Proposed for This Altcoin Listed on Binance, Its Price Has Risen!

Dell Demonstrates Potential Use of Copilot AI in Future Windows PCs

Join our free newsletter for daily crypto updates!