Trader Makes $7 Million Profit in Three Hours with SAVM Token
Date: 2024-01-19 Author: Dima Zakharov Categories: IN WORLD
In a jaw-dropping turn of events, an unidentified trader managed to amass a staggering $6.77 million in profits within a mere three-hour timeframe through their investment in the SatoshiVM (SAVM) token. The remarkable success story began with a strategic move that caught the crypto community's eye.
Utilizing a Telegram bot known as "Banana Gun," the trader automatically acquired SAVM tokens immediately upon their release, ensuring they were among the first to secure this valuable asset at the opening price. To do so, they deposited 277.66 ETH, equivalent to approximately $681,000, and paid a premium fee of 141.66 ETH, roughly $347,000, to secure their position at the front of the line.
Following their initial purchase, the trader sold 2.16 million SAVM tokens for an impressive $4.38 million. Presently, they still hold 450,000 SAVM tokens, valued at slightly over $3 million.
Speculation within the crypto community has arisen, with some users suspecting that the trader may have possessed inside information or been affiliated with the project's development team. Others have hailed them as a "legend" for their audacious move of depositing a substantial sum into a trading bot.
The controversial Banana Gun bot continues to spark debates within the community, with several Reddit users reporting fund losses after using the "sniper" bot, the same tool employed by the fortunate SAVM trader.
Notably, the native Banana Gun token launch faced a major setback in September 2023 due to a smart contract bug, resulting in a nearly 100% collapse in the coin's value.
This incredible success story adds to the growing list of crypto enthusiasts who have managed to profit handsomely from meme tokens, following in the footsteps of those who capitalized on Elon Musk's whimsical online antics.
