$PUPS Token Volatility: Price Soars to $800, Trader Nets $20k from Solana Arbitrage

The cryptocurrency token $PUPS, now trading PUPS/SOL, experienced significant volatility following its listing on the Raydium Protocol and the announcement of a bridge to Solana, leading to a wide arbitrage opportunity. Initially, $PUPS, identified as the #1 meme on Bitcoin and a BRC20, runes, and SPL/ERC token with CA: PUPS8ZgJ5po4UmNDfqtDMCPP6M1KP3EEzG9Zufcwzrg, saw its price soar to over $800 on Solana, contrasting sharply with its $5.10 price on Bitcoin and $170 at one point. This discrepancy was quickly exploited by traders, with early whales selling the token for more than $100 each when its market price on Bitcoin was approximately $4. The price on Solana eventually stabilized at around $2, marking a 50% decrease from its peak. Despite the dramatic price movements, less than 1% of the $PUPS supply, specifically ~55k of 7.7M, has been bridged to Solana. One trader notably capitalized on this arbitrage opportunity, making a net profit of around $20k in just an hour by buying $PUPS on Bitcoin, bridging it to Solana, and then selling it.