A crypto trader made $6.77 million within three hours of the SatoshiVM (SAVM) token’s launch. The trader used a banana gun sniping tool to acquire the to-be-launched token first, then sold it as the price increased, profiting by nearly $7 million.
Using the banana gun trading bot, the trader purchased 2.61 million SAVM for 277.66 Ether (ETH) worth $2,461, or $681,000. Banana Gun, which debuted in September 2023, enables users to snipe presale tokens and trade cryptocurrency quickly. A trader can select “Manual Trade” or “Automatic Sniper,” with the former charging a fee of 0.5% and the latter charging 0.75%.
Within three hours of its launch, the token’s price had fallen by 99%. The developers claimed that the collapse was caused by a bug. The trading bot has been controversial since its inception, with several cases of mysteriously vanishing funds following sniping.
The trader in question used the sniping method, paying 141.66 ETH to be the first to buy SAVM at the start, and was able to acquire over 2.5 million tokens.
The user later sold 2.16 million tokens for $4.38 million and now owns 450,000 SAVM tokens, valued at $3 million, for a profit of approximately $6.77 million.
Many users on X (formerly Twitter) praised the trader for making life-changing money with the banana gun tool. Some described him as a legend, while others praised his willingness to pay 141 ETH in sniping fees.
A few crypto community members speculated whether the trader was an insider or a developer.
