Back to the list

Meme Coin Trader Earns 64,891% Profit in 5 Days Flipping Solana-Based WIF

source-logo  coinedition.com 02 February 2024 07:54, UTC

Reflection, a crypto personality on X (formerly Twitter) renowned for on-chain analysis, has spotted a crypto wallet that went from a $5,600 balance to $184,969 in five days. According to Reflection, the wallet owner achieved this remarkable result by flipping meme coins on the Solana blockchain.

In just 5 days, this #crypto wallet went from $5.6k to $184,969!

He did it not with $JUP Airdrop.

But by flipping meme coins on $SOL. Wanna know how?

I've analyzed all his trades and revealed his secrets. 🧵👇 pic.twitter.com/qIEUll9bT6

— Reflection🪩 (@0xReflection) February 1, 2024

By analyzing the crypto wallet’s activities, Reflection realized that the most significant profit recorded in its transactions came from the Solana-based meme coin, WIF. The analyst noted that the wallet’s owner used insider information and was among the first users to purchase the WIF token.

From the analysis, Reflection noticed that the user’s initial WIF purchase was worth $287 and returned an impressive 64,891% profit. That amounted to a gain of $184,969.32 on the investment.

A deeper examination of the wallet’s activities revealed that the user received three million WIF tokens at the initial purchase. It also showed that the user’s smart wallet adopted a strategy that gradually sold small portions of his holdings between 100x and 1,000x.

Furthermore, Reflection observed that using smart wallets allowed the user to explore the help of sniper bots for trading decisions. The analyst believes that beyond adopting sniper bots, the user displayed significant determination throughout the trading period.

TradingView data shows that WIF rallied more than 720% between January 9 and 18 this year, despite slowing down in pace. However, the price has retraced as the meme coin traded for $0.2230 at the time of writing, dropping from a yearly high of $0.5445.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.