- Reflection has spotted a crypto wallet that went from a $5,600 balance to $184,969 in five days.
- According to Reflection, the wallet owner achieved this result by flipping meme coins on the Solana blockchain.
- The most significant profit recorded in the wallet’s transactions came from the Solana-based meme coin, WIF.
Reflection, a crypto personality on X (formerly Twitter) renowned for on-chain analysis, has spotted a crypto wallet that went from a $5,600 balance to $184,969 in five days. According to Reflection, the wallet owner achieved this remarkable result by flipping meme coins on the Solana blockchain.
By analyzing the crypto wallet’s activities, Reflection realized that the most significant profit recorded in its transactions came from the Solana-based meme coin, WIF. The analyst noted that the wallet’s owner used insider information and was among the first users to purchase the WIF token.
From the analysis, Reflection noticed that the user’s initial WIF purchase was worth $287 and returned an impressive 64,891% profit. That amounted to a gain of $184,969.32 on the investment.
A deeper examination of the wallet’s activities revealed that the user received three million WIF tokens at the initial purchase. It also showed that the user’s smart wallet adopted a strategy that gradually sold small portions of his holdings between 100x and 1,000x.
Furthermore, Reflection observed that using smart wallets allowed the user to explore the help of sniper bots for trading decisions. The analyst believes that beyond adopting sniper bots, the user displayed significant determination throughout the trading period.
TradingView data shows that WIF rallied more than 720% between January 9 and 18 this year, despite slowing down in pace. However, the price has retraced as the meme coin traded for $0.2230 at the time of writing, dropping from a yearly high of $0.5445.
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