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Meme coins on Solana continue to epitomize crypto’s infamous gambling aspect, where participants may make or lose a fortune with a few clicks.&nbsp; 
Lookonchain highlighted a trader’s loss of 263.5 Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noreferrer noopener">SOL</a>) valued at $46,000 after investing in meme coin LADYF on March 22. The crypto user bought over $50,000 worth of the meme token shortly after it was listed. Minutes later, the coin <a href="https://x.com/lookonchain/status/1771166434871435633?s=20" target="_blank">plummeted</a>, and the trader sold it to recover only 36.49 SOL, about $6,200. 
According to Dexscreener, LADYF skyrocketed more than five million percent seconds after launching, but the coin has declined ever since. The token’s name is similar to LADYS, a meme token announced by the NFT project Milady.&nbsp; 
Milady initially raised over $18 million SOL in two hours for its presale, but the project <a href="https://crypto.news/milady-meme-coin-presale/" target="_blank" rel="noreferrer noopener">reimbursed</a> early investors.&nbsp; 
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 <img loading="lazy" decoding="async" width="1024" height="417" src="https://crypto.news/app/uploads/2024/03/Screenshot-350-1024x417.png" alt="Solana" class="wp-image-14260490">
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 LADYF meme token | Source: Dexscreener
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</figure> 
 You might also like: <a href="https://crypto.news/dogwifhat-meme-pic-sold/"> Dogwifhat original meme photo sold for $4.3m in ETH </a> 
<h2 class="wp-block-heading" id="trader-makes-310k-on-ladyf-solana-memecoin">Trader makes $310k on LADYF Solana memecoin</h2> 
While one trader lost 80% of their capital, another increased their initial punt by over 3,400%. The trader invested 0.5 SOL, or $90, seconds after LADYF opened trading and scooped 2.8 billion on the meme coin.&nbsp; 
In crypto, this practice is called sniping and leverages sophisticated tools with higher gas fees to claim priority settlement. The trader cashed in 1,784 SOL worth over $310,000 across several transactions.&nbsp; 
LADYF once again showcased highly liquid speculation on meme coins, cryptocurrencies built around meme culture, and community hype without necessarily providing utility to holders. Since March 12, such tokens have <a href="https://crypto.news/solana-meme-coin-fundraiser/">raised</a> over $150 million in presale rounds. 
Although Solana Labs founder Anatoly Yakovenko urged investors to stop throwing cash at these cryptocurrencies, meme coin trading <a href="https://crypto.news/solana-memecoins-whipsaw-24h-dex-volume-competitors/" target="_blank" rel="noreferrer noopener">buoyed</a> SOL’s blockchain above competitors like Ethereum on at least two occasions in the past week.&nbsp; 
 Read more: <a href="https://crypto.news/solana-blockchain-investors-coingecko/"> CoinGecko: Nearly 50% of investors considering Solana </a>

Solana meme coin costs trader $46k in 3 minutes

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