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## [TL; DR]
A BOME trader earned $131,000 instead of $1 million for selling the token 24 hours earlier than another price spike. 

In January a WIF trader lost over $5.7 million due to slippage. 

The high performance of <a href="/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> based memecoins helps to maintain SOL’s bullish momentum. 

## Introduction
The memecoin hype continues during a time when many other cryptocurrencies are trending. Going by the current trend the meme coins are defying all odds to perform well although they do not have utility. Their trading volumes have been increasing to levels similar to those experienced before the 2022 crypto bubble. 

Explore [Top Solana Meme Coins Coins & Tokens by Market Cap](https://www.gate.io/price/view/solana-meme-coins "Top Solana Meme Coins Coins & Tokens by Market Cap")

Since their inception many small investors have been investing in memecoins due to their  low prices which, however, can rise significantly within short periods. It is such price volatility which crypto investors capitalize on to generate much profit. Like  other cryptocurrencies some memecoins fail to tick in the market. 

This article discusses how an investor missed a memecoin windfall by around 24 hours. We shall also look at how Solana based memecoins are performing on the market. Lastly, we will analyze Solana’s 2024 <a href="/price-prediction" target="_blank" class="blog_inner_link">price prediction</a>. 

## Trader Misses $1 Million Windfall by Selling Frog-themed Solana Memecoin a Day too early 
In a surprising development a crypto trader failed to generate a profit of $1 million from a Solana memecoin he had invested in when he closed the trade a day before its price shot up tremendously. 

After investing $8,000 in a frog-themed Solana memecoin called Book of Meme (BOME) the trader closed the trade and earned $131,000. Although that was a substantial gain the investor could have raked in $1 million if he/she had waited for 24 more hours. 

Read also: [State of Solana DeFi 2024](https://www.gate.io/learn/articles/state-of-solana-defi-2024/2227 "State of Solana DeFi 2024")

According to Lookonchain, a blockchain analytics firm, the trader purchased over 170 million BOME tokens he sold for $131,000 before another strong price spike. The following image shows the transaction conducted through a wallet address shatter.sol. 
![](https://gimg2.gateimg.com/image/article/17115079381.jpg)
Wallet address shatter.sol cashed out more than 170 Million - Solscan

Although, by all standards, the trader made a huge profit he/she could have gained much if he/she had not made a premature memecoin sale. CoinGecko shows that the price of BOME increased from $0.00005848 on 14 March to around $0.0095 on 15 March as the next price chart indicates. 
![](https://gimg2.gateimg.com/image/article/17115079562.jpg)
BOOK of MEME Coin Price – CoinGecko 

As you realize in the price chart above, the BOME price increased tremendously between 14 and 15 March, meaning that the trader would have raked in around $993,000 or more if he had waited for another 24 hours. 

However, Solana memecoin losses are common among  traders due to the volatile nature of such cryptocurrencies. The traders that fail to time the transaction entry and exit points correctly often make serious memecoin trading mistakes. 

Related news: [The ](https://www.gate.io/learn/articles/understanding--web3-banking-protocol-in-one-article-fiat24/2161 "The ")

## Darkfarms, Pseudonymous Art Producer, Astonished by Massive Turnout for Book Meme Presale
In related crypto news, Darkfarms, a pseudonymous art producer, who launched the Book of Meme project was surprised by the number of investors who participated in the early Solana token sale (BOME). 

Darkfarms believes that the project was not only experimental but also had a “weird allocation” during the meme sale. However, in the meantime, the crypto project founder said that they are in the process of mapping a strategy to create pools with much liquidity. 

Related news: [Volatility in Solana's GameStop Meme Coin](https://www.gate.io/blog_detail/3876/volatility-sol-gamestop-meme-coin "Volatility in Solana's GameStop Meme Coin")

<a href="/how-to-buy/pancakeswap-cake" target="_blank" class="blog_inner_link">buy cake</a>
The experience of the above-mentioned Solana memecoin trader is not an isolated occurrence.  On 11 January this year a trader who purchased [Solana Meme Coin Dogwifhat (WIF)](https://www.gate.io/price/dogwifhat-wif "Solana Meme Coin Dogwifhat (WIF)") worth $9 million and later sold it lost 60% due to slippage when he/she closed the trade.  A popular crypto trader Gameshoe commented on X as shown on the screenshot.
![](https://gimg2.gateimg.com/image/article/17115080503.jpg)
Source: x.com

The reason for the loss was that the trader placed a big sell order on a relatively low-liquidity pool. Thus, before the order was executed the price of WIF dropped significantly leading to a slippage loss of more than $5.7 million. The following image shows the WIF price surge and drop. 
![](https://gimg2.gateimg.com/image/article/17115080784.jpg)
WIF Price Surge – TradingView

The surge enticed the trader to place a sell order, however the WIF plummeted before the order was executed. It is worth noting that WIF, another Solana based memecoin, is also currently trending. 

## Solana Ecosystem Surged by 80% in November, Sparking Solana Memecoin Frenzy with Tokens like BONK
The Book of Meme was not the only cryptocurrency that experienced a strong price move in the last few months. The current bullish market started in October 2023 when there was a <a href="/price/solana-sol" target="_blank" class="blog_inner_link">Solana price</a> surge of about 50%. 

More significantly, since that time the Solana price has been in a constant uptrend. Of course, it witnessed peaks and downs along the way, depending on the level of investment within the Solana ecosystem during a specific period.  

As an instance, there was a Solana ecosystem surge in November 2023 that led to an 80% SOL rally. Similarly, several Solana based meme coins like BONK, Silly Dragon and Dogwifhat also gained by high margins. 

Read also: [Bonk Price Prediction & Forecast for 2024, 2025, 2030](https://www.gate.io/price-prediction/bonk-bonk "Bonk Price Prediction & Forecast for 2024, 2025, 2030")

Due to the rise in Solana investments targeted at its popular tokens like BONK and WIF the total memecoin market capitalization has increased to over $60 billion. The current Solana market trends show a rise in demand for the ecosystem’s memecoins. Going forward, the high demand for these memecoins is likely to re-ignite a sustained Solana price increase. 

## Solana Price Surge in March 24 
Solana (SOL) remains bullish during March despite losing its original momentum. Although SOL has registered a decline in the short-term it has recorded gains in the longer periods. 

For instance, Solana, trading at around $175.40 at the time of writing, lost by 0.8% within the last 24 hours and by 8.7% within the last 7 days. Nonetheless, it gained by 21.3% within the last 2 weeks and 72.2% within the last 30 weeks, showing a long-term bullish trend. 

The following Solana price chart indicates how the cryptocurrency performed within the last few weeks 
![](https://gimg2.gateimg.com/image/article/17115081375.jpg)
Solana Price Movement in March – CoinGecko

As observed, the SOL price had been gradually increasing since the beginning of the month until 18 March when it reached $208.05. Currently, the cryptocurrency is 32.6% shy of its all-time high of $259.96, attained on 6 November 2021. In the meantime, the Greed and Fear index shows that Solana is within the Greed Category. 
![](https://gimg2.gateimg.com/image/article/17115081536.jpg)
Solana Greed and Fear Index - CFGI

As noted above, SOL has a score of 60% rate on the Fear and Greed Index. When the cryptocurrency has such a Greed score it means that its price may continue to rise as it is in an accumulation phase.

## Conclusion 
Due to the volatile nature of cryptocurrencies, particularly memecoins, investors may generate much profit or incur huge losses within short periods. We have an example of a trader who purchased BOME for $8,000 and sold it for $131,000. However, if he/she had waited for another 24 hours he might have raked in around $1 million. The high demand for Solana based memecoins has helped to maintain a strong momentum for the SOL crypto. 



<div class="blog-details-info">
<div>Author:** Mashell C.**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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A Book of Meme _BOME_ trader missed an opportunity to earn $1 million after selling the memecoin 24 hours earlier than another price spike.

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Trader Loses Out on $1 Million by Prematurely Selling Solana Memecoin