Solana trader misses $1m profit from new BOME meme coin

A user with the address shatter.sol bought the BOME meme token on the Solana network and earned over $100,000 in a day but missed $1 million profit.

According to Lookonchain on-chain data, on March 13, the trader purchased 170.25 million Book of Meme (BOME) for 50 Solana (SOL), which was worth $8,500 at the time of the transaction. The next day, the trader sold the assets for 767 SOL, which was worth around $130,000.

A day later, according to CoinMarketCap, the token rate increased from $0.00005 to $0.00671 – by almost 600%. Potentially, shatter.sol could have earned around $950,000 if it sold coins at this price, Lookonchain notes.

Solana trader misses $1m profit from new BOME meme coin - 1
Source: CoinMarketCap

The community was divided, with one user deeming the deal “fumbled generational wealth,” while another said, “profit is profit.”

Crypto influencer Elja drew attention to other speculations with BOME. An unknown person purchased 5.5 billion meme tokens for around $71,500 worth of SOL. Within a few days, these assets turned into $5.7 million.

Another X user, under the nickname Sunday Funday, reported the purchase of BOME for a similar amount in SOL.

In March, increased network activity on Ethereum amid the popularity of meme coins led to an increase in fees to a two-year high. During the period from March 2 to March 9, the volume of transaction fees on the mainnet reached $193 million.

Launched in late 2023 ahead of the crypto bull run, new meme coins are generating significant returns for early investors. According to Lokonchain, a trader could have earned more than $23 million on the little-known Dogwifhat (WIF) token if he had not sold it before the bull run began. Instead, the trader sold $142,000 worth of coins.

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