The meme coin frenzy in the Solana ecosystem continues. An investor made a significant decision by investing $226,000 in a token featuring a mascot with a cap-wearing dog. Following this move, the investor’s portfolio soared above $1.6 million, creating substantial excitement in cryptocurrency communities.
As the price of Solana increases, interest in the ecosystem continues to grow. Between December 13 and December 15, a cryptocurrency investor purchased 19 million units of a dog-themed meme coin called Dogwifhat (WIF) offered in the Solana ecosystem.
According to blockchain data analysis firm Lookonchain, the investor bought the tokens at an average price of $0.01137. The total value of the investment is now around $1.69 million, which means the investor made a profit of approximately $1.47 million in just five days.
While a new hype wave continues in the Solana ecosystem, blockchain-based meme coin projects have started to yield significant gains. On December 8, the dog-themed meme coin project Bonk (BONK) became the third-largest meme coin by market value, surpassing other dog-themed meme coin projects like Shiba Inu and Dogecoin.
Bonk’s price increased by 370% in the 30-day period leading up to December 11, rising from $0.0000028 to $0.00002. The token attracted significant attention by outperforming other dog-themed meme coin projects, which showed a 20% increase for SHIB and a 35% increase for DOGE in the same period. The interest in Bonk also boosted the sales of the Saga mobile phone launched by the Solana team. Customers who purchased the phone were entitled to receive an airdrop worth 30 million BONK from the meme coin project, and as the token price increased, they found the opportunity to make a profit by buying the phone and selling the tokens.