Solana’s (SOL) end-of-year surge continues as SOL, priced at less than $20 3 months ago, tops out at $123.66 on Christmas Day—a 550% gain.
In that time several investors have turned small holdings, of less than $1000—and, in one case, less than $100—into millions, achieving gains of over 10,000x in mere days.
Millionaires Made as SOL, and its Meme Coins, Defy Predictions (and Gravity) in Late 2023
Solana was pronounced dead by multiple analysts and commentators after the collapse of FTX and Alameda Research in late 2022, due to the close ties that SOL had to Bankman-Fried.
However, SOL started the year at $9.961 and has, at the time of writing, risen to $112.23—gains of over 1,000%. Most of this has come since September, when SOL was valued at just under $20.
The rise in the Solana price has been driven by multiple factors, but the ones that are given the most credit are the JITO airdrop in December and the meme coin mania that has recently struck the chain. This started with BONK, whose incredible rise saw BONK listed on Coinbase in mid-December.
It is meme coins, specifically SILLY, ANALOS, and MELON, that have turned some traders into millionaires in the space of just a few weeks—according to analysis done by Lookonchain.
One trader started with $92 worth of SOL, according to Lookinchain, and, in 16 days, turned that into $1.55 million.
They used 0.7 SOL to buy 20.5 million of the meme coin SILLY, and then traded 1/4 of their SILLY holdings for $202,575 USDC, continuing to hold ~15m SILLY—worth over $2 million at the time of writing.
While not a millionaire, yet, it took a second trader less than a day to see over 1000x, turning $242 into $250,000. using 3 SOL to buy MELON before watching its price skyrocket and selling part of their holdings for 1,562 SOL.
A third trader realized astronomical gains as they turned $900 in $3.47 million, trading the ANALOS meme coin—with $1.43 million in USDC and 1.12 billion ANAMLOS tokens currently held in their account.
Finally, a fourth trader transformed $2,200 into $5.7 million, by scooping up 16 billion ANALOS for 30 SOL ($2,200) just 1 minute after ANALOS hit the market, before selling the majority of them for 3.45 million USDC.
December has been a fine month for crypto traders and investors, with many coins seeing green as 2023 comes to a close.
Could Meme Kombat be the Next Coin to Explode?
The huge gains mentioned above are what a majority of traders can only dream of, and many spend their time searching for in the crypto markets. Meme Kombat, a token that is currently at the presale stage, is predicted by some analysts to do just that—having raised $4.6 million out of a target of $5 million already.
Meme Kombat is raising funds through the sale of their $MK token to build a gaming platform that pits the most popular memes, including Pepe, Sponge, and Shiba, against each other in battles featuring enthralling, AI-powered fight sequences.
Users can do more than just watch these battles, with holders of the $MK token able to wager their tokens on these battles in Player vs Game and Player vs Player bets, allowing for exciting wagers between friends.
Presale token prices increase in stages, so getting in earlier could mean larger gains should Meme Kombat’s $MK token go parabolic in the same way as many of Solana’s meme coins have recently. Presale participants can also stake their tokens immediately, and receive a high APY, currently standing at 194%.