Originally published on: December 05, 2024
In a stunning turn of events, a vice president at Sotheby’s auction house has unveiled a new Solana memecoin that allowed a trader to rake in $1 million in just half an hour.
On December 4, Michael Bouhanna teased a new art-themed memecoin on his X account. Shortly after, a wallet associated with the executive minted a fresh memecoin named Nothing (VOID).
Following the coin’s debut, a trader splurged 35 SolanaSOL, equivalent to around $8,200, to acquire 462 million VOID tokens, representing 44% of the total supply. Within 30 minutes of the purchase, the wallet offloaded 439 million tokens for 4,604 SOL, amassing a whopping $1 million.
This isn’t Bouhanna’s first rodeo in the world of memecoins. Last time, he launched a memecoin named Comedian (BAN), inspired by the notorious $6-million banana artwork that was famously bought by Tron founder Justin Sun. However, the launch wasn’t without controversy, with allegations of insider trading shadowing the project.
Some critics claimed that Bouhanna profited through insider trading with the BAN token, but the executive vehemently denied these allegations. He stated that the memecoin was simply a personal hobby and bore no connection to his role at Sotheby’s.
Despite the mixed reactions from the crypto community, Bouhanna remains unapologetically passionate about his Solana memecoin ventures. What started as a personal experiment has now become a lucrative pursuit, with traders eagerly jumping on board for a chance at big profits.
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