Silly Dragon, a novel memecoin running on the Solana blockchain, has experienced a remarkable surge in value since its debut on December 16th.
The coin quickly gained popularity within the memecoin token sphere, drawing inspiration from Anatoly Yakovenko, one of Solana’s co-founders, who notably appeared at a conference last Halloween dressed as a dragon.
The market capitalization of Silly Dragon (SILLY) has soared to over $140 million, achieving an impressive 150% surge over the past week and a notable 16% increase in the last 24 hours, reaching a pinnacle of $0.16.
Whale Activity Around $SILLY And $SOL
Noteworthy trading activities have been observed, with a whale investing 8,552 $SOL ($787K) to acquire 9.51 million $SILLY at an average price of $0.08277 over the past eight days. This strategic move has resulted in a current floating profit of $473K, reflecting a substantial gain of 60%.
A whale spent 8,552 $SOL($787K) to buy 9.51M $SILLY at an average price of $0.08277 in the past 8 days.
The current floating profit is $473K (+60%).
Before buying $SILLY, this whale spent 1,475 $SOL to buy $ZERO and sold it for 1,022 $SOL, losing 453 $SOL($34K) in 2 days.… pic.twitter.com/lxANPdRDhO
— Lookonchain (@lookonchain) December 29, 2023
The crypto landscape is no stranger to diverse trading strategies, as highlighted by the experiences of individual traders. A trader with a modest investment of only 1.5 $SOL managed to amass an impressive $2 million in just 22 days, demonstrating an extraordinary gain of 21,715x through $SILLY trading.
These developments underscore the dynamic nature of the cryptocurrency market, where memecoins like Silly Dragon can attract both seasoned whales and individual traders, each contributing to the coin’s intriguing journey. As Silly Dragon continues to capture attention and gain traction, the crypto community watches with anticipation to see how its narrative unfolds.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: alexandarilich/123RF // Image Effects by Colorcinch
