While it is no secret that the cryptocurrency market can provide some lucrative opportunities for a savvy investor, some traders are proving to be savvier
A cryptocurrency trader has managed to profit a staggering $4.4 million in less than a month by trading one particular meme coin, according to data shared by blockchain analytics platform Lookonchain in an X post on October 6.
The trader in question has profited $4.36 million by trading Popcat (POPCAT) after spending 4.13 million USDC to buy 6.11 million POPCAT at the price of $0.68 three and a half weeks ago.
Indeed, the Solana (SOL) meme coin has seen a significant increase in price since then and has recently broken through $1.40, making a new all-time high (ATH), which has allowed this smart money to make a 106% return in less than a month, considering that their purchased POPCAT is now worth about $8.49 million.
Interestingly, this is not the first time for the trader to profit from POPCAT, as they earlier made $1.47 million after spending $1.84 million in USDC to buy 6.05 million POPCAT on April 21-26 and selling it for $3.31 million in USDC on September 5, as the platform observed on September 12 when reporting on the latest purchase.
POPCAT price analysis
Meanwhile, POPCAT was at press time changing hands at the price of $1.45, recording a massive increase of 17.51% in the last 24 hours, adding up to the even more significant gain of 54.26% across the previous seven days and advancing a whopping 185.52% over the month, as per data on October 7.
All things considered, this crypto trader has succeeded in gaining substantial profits from their careful actions in trading the above token. However, extreme caution is necessary when trying to imitate their actions and earn income, especially when trading meme coins, as trends can easily change.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.