In just five hours, a clever cryptocurrency trader managed to turn a mere $861 into a whopping $657,000. This impressive feat was achieved through the purchase of 86.55 million MOTHER tokens, which accounts for 8.66% of the total supply, using 5.14 Solana (SOL). Subsequently, the trader sold 80.41 million of these tokens for 3,035.5 SOL, resulting in a net profit of approximately $509,000.
The trader currently holds 6.14 million MOTHER tokens, which are valued at around $148,000. This incredible success has generated considerable buzz within the crypto community, especially considering the trader’s previous track record of less than 25% wins in nearly 700 coin trades. However, there is no evidence to suggest that the trader had access to insider information.
Turning our attention to Solana’s price, the current value stands at approximately $169.23. After experiencing a recent surge, the price is currently consolidating. When analyzing the Solana price charts, we observe the Alligator indicator, which consists of three moving averages. The green line, representing the 5-period smoothed moving average (Lips), is positioned above the red line (Teeth), which represents the 8-period smoothed moving average, and the blue line (Jaw), which represents the 13-period smoothed moving average. This alignment typically signals a bullish momentum. However, the close proximity of the lines suggests a weakening trend or a potential consolidation phase.
On the other hand, the Awesome Oscillator (AO) indicator at the bottom of the chart displays green bars, with the most recent value at 2.07. These bars are situated above the zero line and increasing in height, indicating a short-term bullish momentum.
Overall, this trader’s extraordinary success story, combined with the current state of Solana’s price, has piqued the interest of many in the crypto sphere.
