Public chain Solana (SOL) continues to perform strongly, currently soaring above $110. The price of its meme coin “Analos” has also experienced a significant increase, rising by nearly 2,900% from its lowest point.
Background:
Before the Helium explosion: STEPN, Bitcoin, and Arweave
Solana (SOL) has shown a strong performance in price since mid-October and this upward trend seems to be continuing. It has surged from $23 to $116. With the rise of $SOL, its ecosystem and meme coins have also attracted widespread attention from the market.
Further reading:
Solana’s meme coin “Silly” skyrocketed 60% in a single day with a market value of over $100 million, hinting at the release of NFTs.
Solana’s meme coin “Analos” has also experienced a surge.
Recently, the price of Solana’s meme token “Analos” has seen an increase. Its simple narrative of being Solana spelled backward, without any overly complicated storytelling, has attracted market interest. According to Coingecko data, in just four days since Analos launched, the price has increased by nearly 2,900%, with over a 110% increase in the past 24 hours, reaching $0.00192381.
Analos has seen a 110% increase in the past 24 hours | Source: Coingecko
From $900 to $3.47 million, a wealth creation myth
According to Lookonchain data, a trader made a profit of $3.47 million in just four days by trading $ANALOS, which represents an astonishing increase of over 3,800 times.
First, the trader purchased 2.6 billion $ANALOS tokens for 12 $SOL (equivalent to $900). Then, they successfully sold 1.45 billion $ANALOS tokens for 1.43 million $USDC. Although there are still unsold $ANALOS tokens, they have already realized huge profits.
Currently, the trader still holds 1.12 billion $ANALOS tokens, estimated to be worth around $2.04 million. This means their total profit is close to $3.47 million.
Interestingly, Analos has not only attracted retail investors but also received a significant investment of $1 million from the well-known hedge fund Gotbit Hedge Fund today (25th). This funding will be used to launch a large-scale token buyback program, with all repurchased $ANALOS tokens being allocated to Analos’ treasury. The team stated that these tokens will be used for various future activities, including listing on new exchanges, marketing campaigns, airdrops, etc., to drive the overall project’s development.
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Analos
SOL
Solana