Here’s How a Memecoin Trader Multiplied $8,524 Into Over $12,800,000 in Just Weeks: On-Chain Data

One savvy memecoin trader is attracting attention for having turned $8,524 into $12,800,000 within weeks.

According to blockchain tracking firm Lookonchain, one trader is looking at massive profits after buying and selling memecoin Pepe (PEPE).

“jwynn.eth (@JamesWynnReal) spent $8,524 to buy 2.83 trillion PEPE in the early stage and sold 1.81 trillion PEPE for $4.57 million. He currently holds 1.02 trillion PEPE ($8.25 million) in three wallets. The total profit on PEPE is ~$12.8 million, a gain of 1,503x!”

Lookonchain also noticed another smart trader made off with big gains by trading Book of Meme (BOME), a newer memecoin launched on Solana (SOL).

“This trader made over $2 million by trading memecoins! Not an insider! Let’s see how real traders trade memecoins…

He made the most money on BOME, earning more than 6,495 SOL ($1.23 million). He spent 300 SOL to buy BOME and sold it for 6,795 SOL. After Binance announced the listing of BOME, he spent 3,000 SOL to buy BOME from DEX (decentralized exchange) and deposited it into Binance for sale.”

Image
Source: Lookonchain/X

Lastly, Lookonchain noticed a quick-thinking trader made more than $390,000 after Renzo Protocol’s restaked Ether token (EZETH) price depegged on April 24 before recovering price parity with Ethereum (ETH).

“czsamsunsb.eth made 121.65 ETH in just two hours after EZETH (Renzo Restaked ETH) depegged! He spent 4,099 ETH to buy 4,221 EZETH successfully, making 121.65 ETH!”

Image
Source: Lookonchain/X

Comments

Post a Comment

Popular posts from this blog

Crypto market ‘dramatically underestimates’ bullishness of spot Bitcoin ETFs

Image
“It’s reckless not to aggressively accumulate BTC at current levels,” K33 senior analyst Velte Lund said in a recent report. The potential of a spot Bitcoin (BTC) exchange-traded fund (ETF) approval to drive prices up is dramatically underestimated by the crypto market , claim analysts from crypto research firm K33 — formerly Arcane Research.  In a Sept. 5 market report, K33 senior analyst Vetle Lunde and vice president Anders Helseth said the last three months had greatly improved the chances of a spot Bitcoin ETF approval despite the sentiment not being reflected in the price of Bitcoin or other mainstay crypto assets. The analysts explained while Bitcoin had all but given up its gains in the wake of Grayscale’s legal victory over the Securities and Exchange Commission — an approval would “attract enormous inflows” and significantly increase buying pressure for Bitcoin. Bitcoin returned its gains in the wake of Grayscale's victory. Source: K33 Research However, the downside of ...
Read more

Crypto Bias Blocks People from Seeing Coinbase as Goldman 2.0: Bitwise CEO

In a recent tweet, Hunter Horsley, CEO of Bitwise Asset Management, shared his frustration with the poor attention given to the US-based crypto, Coinbase, claiming that people are “sleeping” on the crypto business. Horsley argued that while big banks like Goldman Sachs attempt to avoid a “slow death” by investing in technology, APIs, and retail services, Coinbase has already achieved what many banks strive to attain. He points out that the exchange has an exceptional institutional team with 25% of the most significant hedge funds as clients, over 50% institutional volume, and a suite of first-class tech products. The Bitwise CEO also claimed that Coinbase co-invented the USDC payment rail, facilitating $2 trillion in transfers in 2022 Q4 alone. Rant — People are sleeping on Coinbase. Big banks like GS are working to avoid slow death by getting into technology, APIs (Apple deal), more retail services (Marcus), while grappling with the heft of legacy biz, rate exposure, ...
Read more

Komodo (KMD) Price Prediction 2023-2030: Will KMD Price Hit $ 0.7 Soon?

Image
Bullish Komodo (KMD) price prediction ranges from $0.4 to $0.7 Analysis suggests that the KMD price might reach above $0.68. The KMD bearish market price prediction for 2023 is $0.1775. What is Komodo (KMD)? Komodo is an open-source technology provider that provides the infrastructure and tools for the new decentralized financial system. With Komodo, anyone has the capability of launching a branded decentralized exchange, cross-protocol financial applications, and independent blockchains.   The project’s flagship end-user application is Komodo Wallet (formerly AtomicDEX). It is a non-custodial multi-coin wallet, crypto bridge, and DEX rolled into one app. Being compatible with 99% of cryptocurrencies, Komodo Wallet offers the widest cross-chain, cross-protocol trading support of any decentralized exchange. Komodo Wallet’s DEX feature is built using a peer-to-peer (P2P) atomic swap protocol with decentralized order books. Developers use ...
Read more