A crypto trader made millions in just 12 minutes with a newly listed meme coin.
According to on-chain analysis platform Lookonchain, a whale made $3 million in just 12 minutes by trading SLERF, listed on the Solana (SOL) network today.
After purchasing 69.74 million SLERF for $1.98 million shortly after it was listed, the whale sold them for $5 million shortly after, making a profit of about $3.02 million. The meme coin SLERF was created with the promise of exchanging it with SOL, however it caused $10 million in losses for investors.
This incident increased the popularity of SLERF, and it was listed on many exchanges shortly after. If the whale had held onto the assets for a few more hours, he could have likely made a $10 million profit.
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