Coinspeaker
Crypto Trader Paulo.sol Earns $23 Million from Solana Meme Coins

A crypto whale has cashed out massively while trading Solana-based meme coins like Dogwifhat (WIF), Joe Boden (BODEN), and Bonk (BONK). The trader, known by the pseudonym Paulo.sol, made approximately $23 million in pure profits from flipping the digital assets.

Lookonchain, a leading blockchain analytics company, shared the news on X (formerly Twitter) on Friday, breaking down the trades. The whale made $9.51 million from WIF, $7.04 million from BODEN, and $6.28 million from BONK.

Mastering the Flip

Paulo.sol’s success story began in November last year when he noticed the rising value of BONK and decided to invest. He then started flipping the tokens after the first purchase, buying at a lower price and selling high. Through this method, the whale generated a total of $6.28 million in profits from BONK alone.

The following month, on December December 4, 2023, the trader identified another opportunity with WIF and made a successful investment. He found the token when it was freshly launched online and held it until it became profitable.

According to Lookonchain, his keen eye for promising assets led him to BODEN on March 6, 2023, where he once a...