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Sniper Bot Earns Over $6,8 Million in Memcoin Trades

Sniper Bot Earns Over $6,8 Million in Memcoin Trades

HappyCoinNewsHappyCoinNews2024/11/26 22:33
By:HappyCoinNews

Lookonchain analysts said that within a month the trading bot was able to earn 27 Solana (SOL) from memecoin sniper trades on the Pump.fun platform.

Sniper Bot Earns Over $6,8 Million in Memcoin Trades image 0

According to their data, a few days ago, the trading bot spent 1,75 SOL to purchase 57 million FATHA tokens. When the coin's price increased, the bot sold them for 4456 SOL ($1,12 million). On these transactions, the bot's profit exceeded 2227%.

Yesterday, the bot bought 58,57 million FRIC memcoins for 1,75 SOL. The sale of the asset brought it a 943-fold increase in investment - 1646 SOL ($418). As experts point out, the trading bot operates on a decentralized sniping wallet and transfers profits from the received transactions to a cryptocurrency exchange OK .

Analysts have determined that over the past month, the bot has deposited 19 SOL out of the 000 SOL it earned into a wallet address for the purpose of selling it on the market.

As experts suggest, the bot is now waiting for further growth in the price of memecoins in order to start making transactions with them and receive additional profit.

It is worth noting that such a successful trading bot strategy is rare, and bots often make mistakes, losing deposits of tens and hundreds of thousands of dollars. However, this bot became an exception to the rule.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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