BORK craze on Solana: Investors turned 4 SOL into 2,250 SOL in 5 days

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Multiple tokens in the Solana ecosystem saw significant price increases, attracting profit-taking from early investors.

After an impressive resurgence, Solana has become one of the hottest cryptocurrency projects in recent weeks.

The digital asset has surged, growing in value by more than 775% in the last year, attracting investors eager to take advantage of the impressive price gains. From there, they injected multiple active tokens on the Solana blockchain.

BORK Hot on Solana

according to data The latest news from blockchain analytics platform Lookonchain shows that a trader earned approximately 2,250 SOL (or $245,000) in 5 days with an initial investment of only 4 SOL.

This trader discovered BORK, a memecoin on the Solana blockchain, within 10 minutes of opening a position. He purchased 1.2 billion BORK using 4 SOL and then sold 888 million tokens for 1,454 SOL.

As of now, this address still holds 311.4 million BORK, worth approximately 800 SOL. Meanwhile, BORK surged over 600% today alone as memecoin surged on the Solana network.

BORK Price Chart 1 Hour | Source: Tradingview

this riceemies more than Solana grow

The memecoin craze triggered profit-taking by early investors in these projects. As the price rises, they are likely to make substantial profits from their initial position.

This is demonstrated by another observation Guan Lian, shows one smart trader trading 27 memecoins on the Layer 1 blockchain in 11 days, 21 of which were profitable. In total, he has won nearly $77,700 and has a win rate of 78%.

Last month, another Solana investor reportedly made nearly $2 million in profit investing in another memecoin for just 1.5 SOL Guan Lian. This person discovered SILLY, a meme coin whose mascot is a funny dragon.

Within 5 minutes of SILLY entering the market, traders exchanged 1 SOL (worth approximately $62 at the time) for 43 million SILLY tokens. Over the next 22 days, as SILLY hit new highs, the token’s value increased by approximately $2 million, pushing the market cap past the $123 million mark.

Several memecoins on Solana have seen pullbacks recently as investors look to take profits.