Trader Makes $2M In 22 Days Off Solana-Based SILLY, 'Highest Cap Dragon Coin Going Into 2024' Analyst Says

A trader who started with only 1.5 SOL (worth $92) managed to make $2 million in 22 days, marking a gain of 21,715x.

What Happened: According to Lookonchain data, the trader noticed the token Silly Dragon (CRYPTO: SILLY) only five minutes after it opened to trade.

After spending 1 Solana (CRYPTO: SOL) worth $62 to purchase 43.1 million SILLY he then sold 33.34 million SILLY for $528,000 leaving $1.5 million worth SILLY left with him. This makes the trader the eighth largest holder of the memecoin SILLY.

Also Read: Memecoin Madness - Solana Degen Turns $92 Into $1.5M In 16 Days Trading Silly Token, Can You Repeat This Dream?

Why It Matters: SILLY’s top 10 addresses, excluding centralized exchanges, own 18.5% of the total amount of SILLY reporting an average floating profit of 30x.

For the unfamiliar, Silly Dragon was launched by Solana’s cofounder Anatoly Yakovenko in the Solana ecosystem on Halloween. It depicts a fresh and playful energy within the Solana narrative promoting community engagement and creativity.

The new memecoin doesn't have a transaction tax. It boasts of a liquidity pool that is burnt for maintaining fairness and stability.

Silly Dragon emerges at a time when 2024, the year of the dragon (as mentioned in several cultural zodiacs) is approaching. This has led to expectations of new narratives and innovations surrounding the Silly Dragon.

CompareMarketCap stated on social media that if SILLY reaches BONK’s market cap its price would be $0.91 which is 6.2x. Another user, The__Solstice said, "So I just realized SILLY is the highest cap dragon coin going into 2024."

Price Action

  • On Dec. 27, Solana-based meme coin Silly Dragon peaked at a new high level with a market cap of $140 million.
  • After listing on Dec. 21, 2023, the token opened at $0.06279 and Dec. 27 closing price stands at $0.1474, 135% higher.
  • In the past 24 hours, the price is down 6.3% with volumes narrowed by 31% in the same time frame. Its self-reported circulating supply stands at 1000 million SILLY.

Read Next: Is Santa Betting On BONK? How Solana's Memecoin Jingled All The Way To $1B Market Cap Club Containing Shiba Inu, Dogecoin

Image: Shutterstock

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