A crypto trader achieved an astonishing $6.77 million in profits within a mere three hours of the SatoshiVM (SAVM) token’s launch. The trader employed the Banana Gun sniping tool to acquire SAVM tokens before the launch and capitalized on the subsequent price surge, ultimately amassing nearly $7 million in gains.
The trader initially purchased 2.61 million SAVM tokens, worth $681,000, by utilizing the Banana Gun trading bot. Banana Gun, launched in July 2023, offers users the capability to swiftly snipe presale tokens and engage in rapid crypto trading. Users can choose between “Manual Trade” with a 0.5% fee and “Automatic Sniper” with a 0.75% fee.
Remarkably, the token’s price plummeted by 99% within three hours of its launch, attributed to a bug during the v1 release. The development team opted to sell treasury funds to recover locked liquidity, ensuring that all participants in v1 were fully compensated, with the Banana Gun team absorbing the financial setback. However, the trading bot has been the subject of controversy, with instances of mysteriously vanishing funds post-sniping.
The trader in question executed a sniping strategy, paying 141.66 ETH to secure the first purchase of SAVM at the token’s launch, amassing over 2.5 million tokens. Subsequently, the trader sold 2.16 million tokens for $4.38 million and currently holds 450,000 SAVM tokens, estimated at $3 million, resulting in total profits of approximately $6.77 million.
The trader’s impressive financial success with the Banana Gun tool garnered recognition and praise from the crypto community. Many on social media platforms celebrated the trader’s remarkable achievement, with some hailing them as a legend and others commending their willingness to pay a significant amount in sniping fees.
In summary, this trader’s swift and lucrative maneuver with the Banana Gun tool serves as a testament to the potential gains and risks associated with crypto trading in a rapidly evolving market.
Get $200 Free Bitcoins every hour! No Deposit No Credit Card required. Sign Up