---
title: "Trader fumbles $1M bag after selling a Solana memecoin early"
url: https://diffcoin.com/trader-fumbles-1m-bag-after-selling-a-solana-memecoin-early/
description: "A trader who bought a newly launched frog-themed memecoin on the Solana (SOL) network missed the chance of turning $8,000 into around $1 million after…"
published: 2024-03-15
updated: 2024-03-15
author: "Mila"
site: "Diffcoin"
---

# Trader fumbles $1M bag after selling a Solana memecoin early

A trader who bought a newly launched frog-themed memecoin on the Solana (SOL) network missed the chance of turning $8,000 into around $1 million after selling the tokens a day before prices skyrocketed.

On March 14, blockchain analytics firm Lookonchain [flagged](https://twitter.com/lookonchain/status/1768261745280503817) an impressive trade that saw a Solana holder with the wallet address “shatter.sol” invest 50 SOL into a new Solana memecoin dubbed Book of Meme (BOME).

The trader bought around 170 million tokens and sold them for $131,000 after the price increased.

*Wallet address shatter.sol cashing out earnings from the trade. Source:* *Solscan*

While many would already consider the trade outstanding, the token’s price catapulted even further. Data from coin information tracker CoinGecko shows that BOME went from an initial price of $0.00005848 on March 14 to as high as $0.005833 on March 15.

This boosted the token to a market capitalization of over $320 million, meaning the 170 million tokens would have been worth about $993,000 if the trader waited a day before selling.

*Crypto community members discussing the trade. Source: [Lookonchain on X](https://twitter.com/lookonchain/status/1768557101444669457)*

Onlookers’ opinions were split when it came to the Solana memecoin trade. One X (formerly Twitter) user thought that the trader “fumbled” generational wealth, while another said that “profit is profit.”

***Related:*** ***Trader hits $2M jackpot after putting $62 into a Solana memecoin***

While the trader may have missed out on massive gains, others seem to have better luck. Influencer Moataz Elsayed, also known as “Eljaboom” in the crypto space, [claims](https://twitter.com/Eljaboom/status/1768554706031222975) to have seen a wallet address turn 420.69 SOL (worth $80,000) to $5.7 million in only 48 hours.

The amount matches a presale investment from an anonymous trader, Sunday Funday, who claims to be the number one tokenholder.

*Sunday Funday announces their investment into the memecoin presale. Source:* [*Sunday Funday on X*](https://twitter.com/SundayFundayLFG/status/1768058894872687011)

The Book of Meme project was launched by a pseudonymous art producer Darkfarms, who was also surprised by the amount of people participating in the memecoin’s presale.

The art producer [said](https://twitter.com/Darkfarms1/status/1767874964286247391) they did not expect big numbers for such an experimental project with a “weird allocation” during its presale.

On March 13, the memecoin founder said their next move would be to observe and think of a strategy for creating pools with good liquidity.

In November 2023, a new wave of interest hit the Solana ecosystem, increasing the token’s price by 80%. This was followed by a Solana memecoin frenzy, with tokens like Bonk, Dogwifhat and Silly Dragon showing massive gains.

***Magazine:*** ***Real-life Doge at 18: Meme that’s going to the moon***

[Source link](https://cointelegraph.com/news/trader-fumbles-1-million-solana-memecoin-frenzy)