Solana

Raydium

cat in a dogs world

<div class="finbold"> 
 <p class="paragraph">The Solana ecosystem has been consolidating itself as a profitable environment for ‘smart <a rel="dofollow" title="trade" href="https://thebittimes.com/tag/trade.html">trade</a>rs’ and lucky speculators. Following this trend, a <a rel="dofollow" title="trade" href="https://thebittimes.com/tag/trade.html">trade</a>r invested $35,000 worth of Solana (SOL) to buy a meme coin stash now worth over $10 <a rel="dofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>.</p> 
 <p class="paragraph">Notably, the Solana account ‘5We8d…qP5GY’ purchased 4.41 billion of a token called “cat in a dogs world” (MEW).&nbsp;</p> 
 <figure class="wp-block-image size-large">
  <img decoding="async" width="1024" height="152" src="https://cdn.thebittimes.com/images/2024/03/26/8995ed88078df292852958c6e3d0369a.webp" alt class="wp-image-163769" srcset="https://cdn.thebittimes.com/images/2024/03/26/8995ed88078df292852958c6e3d0369a.webp 1024w, https://cdn.thebittimes.com/images/2024/03/26/8995ed88078df292852958c6e3d0369a.webp 300w, https://cdn.thebittimes.com/images/2024/03/26/8995ed88078df292852958c6e3d0369a.webp 768w, https://cdn.thebittimes.com/images/2024/03/26/8995ed88078df292852958c6e3d0369a.webp 1362w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   <p dir="ltr" style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;" id="docs-internal-guid-d3ad554b-7fff-e46c-c0cf-c71f59d93070"><span style="font-size:11pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">‘5We8d…qP5GY’ account summary on Solana. Source: </span><span style="font-size:11pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">SolScan.io</span></p>
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 </figure> 
 <p class="paragraph">For that, the trader spent 178.2 SOL, worth $35,000 when <em>Lookonchain</em> reported the accomplishment on X (formerly Twitter). This purchase happened on March 26, at 5:23 am (UTC) and <em>Lookonchain</em> posted at 7:16 am (UTC).</p> 
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    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <p class="paragraph">At that time, MEW was priced at $0.002023 on Raydium (RAY), a popular decentralized exchange running on Solana. Finbold listed Raydium as one of the most promising projects in Solana’s ecosystem to watch for 2024.&nbsp;</p> 
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  <img decoding="async" width="1024" height="658" src="https://cdn.thebittimes.com/images/2024/03/26/ae9abc96f9584487d2c15b9e34942505.webp" alt class="wp-image-163771" srcset="https://cdn.thebittimes.com/images/2024/03/26/ae9abc96f9584487d2c15b9e34942505.webp 1024w, https://cdn.thebittimes.com/images/2024/03/26/ae9abc96f9584487d2c15b9e34942505.webp 300w, https://cdn.thebittimes.com/images/2024/03/26/ae9abc96f9584487d2c15b9e34942505.webp 768w, https://cdn.thebittimes.com/images/2024/03/26/ae9abc96f9584487d2c15b9e34942505.webp 1536w, https://cdn.thebittimes.com/images/2024/03/26/ae9abc96f9584487d2c15b9e34942505.webp 1792w" sizes="(max-width: 1024px) 100vw, 1024px">
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   MEW/USD 1-minute price chart on Raydium. Source: <em>Lookonchain</em>
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 <h2 class="wp-block-heading" id="h-mew-price-analysis-and-a-10-billion-worth-solana-trade">MEW price analysis and a $10 billion worth Solana trade</h2> 
 <p class="paragraph">As of writing, the Solana <a rel="dofollow" title="trade" href="https://thebittimes.com/tag/trade.html">trade</a>r’s position has already surpassed the $10 billion of unrealized profit with this <a rel="dofollow" title="trade" href="https://thebittimes.com/tag/trade.html">trade</a>. MEW is currently priced at $0.002688 according to the <em>CoinGecko</em> index, for a $203.57 <a rel="dofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> market cap.</p> 
 <figure class="wp-block-image size-large">
  <img loading="lazy" decoding="async" width="1024" height="392" src="https://cdn.thebittimes.com/images/2024/03/26/e72f186d4759ff3fa6b99c2642c541fd.webp" alt class="wp-image-163772" srcset="https://cdn.thebittimes.com/images/2024/03/26/e72f186d4759ff3fa6b99c2642c541fd.webp 1024w, https://cdn.thebittimes.com/images/2024/03/26/e72f186d4759ff3fa6b99c2642c541fd.webp 300w, https://cdn.thebittimes.com/images/2024/03/26/e72f186d4759ff3fa6b99c2642c541fd.webp 768w, https://cdn.thebittimes.com/images/2024/03/26/e72f186d4759ff3fa6b99c2642c541fd.webp 1536w, https://cdn.thebittimes.com/images/2024/03/26/e72f186d4759ff3fa6b99c2642c541fd.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   cat in a dogs world MEW. Source: <em>CoinGecko</em>
  </figcaption>
 </figure> 
 <p class="paragraph">Interestingly, the 24-hour trading volume of the token is at $155.48 million. This suggests the trader may face liquidity challenges while trying to realize his millionaire profits. On that note, any meaningful sale could negatively impact the token’s price and erase the account’s gains.</p> 
 <h2 class="wp-block-heading" id="caution-warning-while-trading-meme-coins">Caution warning while trading meme coins</h2> 
 <p class="paragraph">One of the most significant risks of trading meme coins is related to liquidity, which increases in recently created tokens.</p> 
 <p class="paragraph">Sometimes, the exchange rate of an asset may rise exponentially in a low liquidity environment. This gives the impression of huge gains in a successful trade.</p> 
 <p class="paragraph">However, the gains are only accrued when realized throughout the selling for a consolidated asset like SOL or stablecoins. Essentially, the huge volatility that drove the price upward can similarly occur in the opposite direction, erasing the unrealized gains.</p> 
 <p class="paragraph">The Solana trading ecosystem is still maturing, which creates both massive opportunities and threats for traders. Therefore, anyone speculating in this landscape must act cautiously and have a clear entry and exit strategy.</p> 
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/solana-trader-turns-35-000-into-9-million-in-2-hours-tbt83566.html">https://thebittimes.com/solana-trader-turns-35-000-into-9-million-in-2-hours-tbt83566.html</a></p>

Solana trader turns $35,000 into $9 million in 2 hours

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