Trader Turns $681,000 into $6.77M in 3 Hours with SatoshiVM Token Launch

In a daring move, a seasoned trader transformed $681,000 into an impressive $6.77 million within a mere three hours following the launch of Satoshi Virtual Machine (SAVM), a new Bitcoin scaling solution.

Gutsy Strategy Pays Off

Lookonchain, an on-chain analytics provider, unveiled the trader's audacious strategy. Leveraging the popular Telegram-based trading bot, Banana Gun, the trader secured the first trade upon SAVM's launch. To accomplish this, a "bribe fee" of 141.66 ETH (approximately $353,000) in Ethereum was paid.

Token Windfall

This strategic move enabled the trader to acquire 2.61 million SAVM tokens, equivalent to $6.77 million. As of the latest update, the trader has already sold 2.16 million SAVM, pocketing $4.38 million.

Mirroring a Fairy Tale Success

The narrative echoes the Cinderella story of a Solana-based user who turned $5,000 into $1.8 million with the dog-themed memecoin, dogwifhat.

Costly and Advanced Strategy

In contrast, this trader employed a costly and highly advanced strategy to capitalize on the much-anticipated SAVM launch.

Decentralized Bitcoin Layer-2

Satoshi Virtual Machine positions itself as a "decentralized Bitcoin Layer-2," aspiring to scale Bitcoin and facilitate user interactions with Bitcoin in a manner akin to Ethereum.

Bitcoin Ordinals Hype

The launch capitalizes on the excitement surrounding Bitcoin Ordinals, quasi-NFTs operating on the Bitcoin blockchain. However, the project's ability to fulfill its promises remains uncertain.

Caution for Aspiring Traders

For those aspiring to replicate this success, it's crucial to recognize that such achievements often stem from years of experience and can entail substantial costs. Additionally, the intricacies of trading may not always be apparent, as evidenced by cases of insider trading.

While the trader's swift success with SAVM is noteworthy, it serves as a reminder that lucrative outcomes demand careful consideration and experience. As the cryptocurrency landscape evolves, caution remains essential for those seeking to navigate its complexities.