---
title: "Trader gambles $226k on Solana memecoin, gets to $1.69M in five days"
url: https://diffcoin.com/trader-gambles-226k-on-solana-memecoin-gets-to-1-69m-in-five-days/
description: "The Solana (SOL) memecoin frenzy continues as a trader turns $226,000 into well over $1.6 million by gambling on a token with a beanie-wearing dog as its…"
published: 2023-12-18
updated: 2023-12-18
author: "Mila"
site: "Diffcoin"
---

# Trader gambles $226k on Solana memecoin, gets to $1.69M in five days

The Solana (SOL) memecoin frenzy continues as a trader turns $226,000 into well over $1.6 million by gambling on a token with a beanie-wearing dog as its mascot.

Between Dec. 13 and Dec. 15, a crypto trader bought over 19 million Dogwifhat (WIF) tokens, a dog-themed memecoin, as it debuted on the markets within the Solana network. According to blockchain analytics firm Lookonchain, the trader bought the tokens at an average price of $0.01137. Currently, the tokens’ total value hovers at around $1.69 million, making the trader about $1.47 million in profits within five days.

> Thanks to the token [$WIF](https://twitter.com/search?q=%24WIF&src=ctag&ref_src=twsrc%5Etfw), this trader turned $226K into $1.69M in 5 days.
> 
> This trader bought 19.86M [$WIF](https://twitter.com/search?q=%24WIF&src=ctag&ref_src=twsrc%5Etfw) between Dec 13 and 15 at an average price of $0.01137.
> 
> The 19.86M [$WIF](https://twitter.com/search?q=%24WIF&src=ctag&ref_src=twsrc%5Etfw) is now worth $1.69M, making ~$1.47M in 5 days. [pic.twitter.com/xsBBOivbhW](https://t.co/xsBBOivbhW)
> 
> — Lookonchain (@lookonchain) [December 18, 2023](https://twitter.com/lookonchain/status/1736631814570295729?ref_src=twsrc%5Etfw)

As a new wave of interest hit the Solana ecosystem, memecoins based on the network have started to show massive gains. On Dec. 8, a dog-themed memecoin called Bonk (BONK) became the third-largest memecoin by market capitalization, joining fellow dog-themed memecoins Shiba Inu (SHIB) and Dogecoin (DOGE) in the top three and flipping Pepe (PEPE), a frog-themed meme token.

Bonk’s price jumped by 370% in the 30 days leading to Dec. 11, going from $0.0000028 to $0.00002 at the time of writing. The token outpaced the growth of fellow dog memecoins SHIB and DOGE, which had a growth of 20% and 35% in the same time period.

***Related:*** ***Trader allegedly saw over 5,000x gains after Ankr protocol hack***

The hype surrounding Bonk also increased sales for Solana’s mobile phone Saga. Since its launch, Solana Saga phone owners received a 30 million airdrop of the memecoin. With the token price rising, users grabbed the opportunity to profit by buying the phone and selling the tokens.

***Magazine:*** ***Simp DAO queen Irene Zhao on why good memes are harder than trading: X Hall of Flame***

[Source link](https://cointelegraph.com/news/trader-gambles-226k-solana-memecoin-1-69m-five-days)