Solana Trader Flips 3 SOL to 1,703 SOL With Early MYRA Bet

In a lightning-fast play, a Solana trader has turned a mere 3 SOL (roughly $280) into a staggering 1,703 SOL (over $170,000) within a single day by riding the wave of a crypto token dubbed “MYRA.”

Winning Big on MYRA Bet

MYRA is a new dog-themed memecoin on Solana. Without providing further details, the project website describes MYRA as the wife of MYRO, another memecoin inspired by Raj Gokal’s (one of the co-founders of Solana) dog.

According to on-chain analyst Lookonchain, the story began when the sharp-eyed trader grabbed 61.8 million MYRA for just 3 SOL within 5 seconds of MYRA’s trading launch.

In just 1 day, this trader turned 3 $SOL into 1,703 $SOL ($170K), a gain of 567x!

He spent 3 $SOL to buy 61.8M $MYRA within 5 seconds of opening trading, then sold 33M $MYRA for 603 $SOL.

He currently holds 28.74M $MYRA(worth 1,100 $SOL).

The profit is ~1,700 $SOL ($170K)! pic.twitter.com/guTUXtnd97

— Lookonchain (@lookonchain) January 14, 2024

Capitalizing on the initial price surge shortly after the acquisition, they sold off 33 million of their MYRA stash for SOL tokens, pocketing a staggering 603 SOL ($60,300) in the process.

Still Holding 

Meanwhile, this wasn’t a one-shot deal, as the trader held onto the remaining 28.74 million MYRA tokens. Adding this to the $60,300 realized profit; the trader now sits at a staggering 1,703 SOL ($170,000) gain from a $280 investment – a mind-blowing 567x return in just 24 hours.

According to Solscan, MYRA has a supply of 999,942,074 coins with 5,209 holders. At press time, MYRA live price was $0.002031, representing a 47% decline in the last 24 hours.

With the latest development and others reported recently, it appears the Solana ecosystem is experiencing a meme season. On December 21, 2023, Coinfomania reported that a trader flipped $92 in SOL to millions with an early SILLY bet. SILLY is another new Solana-based memecoin.

While these traders succeeded on their MYRA and SILLY bets, it is important for investors to do their own research as memecoins can be highly volatile due to their value being driven by community buzz and popularity surrounding them.

The post Solana Trader Flips 3 SOL to 1,703 SOL With Early MYRA Bet appeared first on Coinfomania.