A savvy trader has made a staggering 400% profit by capitalizing on the $DOGS memecoin frenzy. Here’s the play-by-play.
The trader seized the opportunity to buy $DOGS on a decentralized exchange (DEX) before its listing on a centralized exchange (CEX), snagging 55.9 million tokens for just $0.00013 each. With an initial investment of $18.4K in $TON, the trader sold 20 million $DOGS for $34.6K, pocketing a tidy profit.
A smart trader has made over 400% profit by trading $DOGS!
How did he do it? 👇$DOGS was already available for trading on #DEX a few hours before listed on #CEX, with the price as low as $0.00013.
The smart trader spent 3,271 $TON($18.4K) to buy 55.9M $DOGS, sold 20M $DOGS… pic.twitter.com/zqSxyEf0Xk
— Lookonchain (@lookonchain) August 26, 2024
$DOGS Investment Skyrockets
But the real coup was depositing the remaining 35.9 million $DOGS onto the CEX, where their value skyrocketed to $61K. This bold move netted the trader a whopping $77.3K profit, a 420% return on investment.
The $DOGS memecoin listing sparked a massive surge in activity on the $TON Blockchain, with daily active addresses reaching an all-time high of 2.3 million and 1.1 million new addresses created on August 26, 2024. However, this influx of traffic also led to network congestion, causing transaction delays on the blockchain.
https://twitter.com/felixreads/status/1828369038512111794?t=CJMubsheClQzGPvV5nl7EA&s=19
This trader’s success story serves as a testament to the potential for savvy investors to capitalize on memecoin mania. By staying ahead of the curve and making bold moves, traders can reap substantial rewards in the volatile world of cryptocurrency.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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