An analysis provided by Lookonchain revealed that a savvy investor has successfully generated over $5 million through strategic trading of various meme coins, including PEPE, Mog Coin (MOG), SPX6900 (SPX), and Wojak (WOJAK).
An analysis by Lookonchain has shown that a smart investor has made over $5 million trading various meme coins, including PEPE, Mog Coin (MOG), SPX6900 (SPX), and Wojak (WOJAK).
According to Lookonchain, this investor made $2.19 million on PEPE, $1.7 million on SPX, $1.37 million on MOG, and $207,000 on WOJAK.
As the price of SPX increased, the investor sold portions of their SPX holdings to realize profits. These profits were then used to increase their positions in PEPE and WOJAK.
The investor initially acquired 10.1 million SPX for $57,000 between December 19, 2023, and May 21, 2024. As SPX began to rise, they sold 9.1 million SPX for around $1.12 million. However, the investor retained 1 million SPX valued at about $636,000. This smart trading resulted in a profit of $1.7 million from SPX alone.
The investor has been gradually accumulating PEPE since December 10, 2023. They currently have 318 billion PEPE, valued at $3.24 million, in two wallets, showing an unrealized gain of $2.19 million.
Beginning on January 22, the investor ventured into MOG, investing $194,000 to acquire 802.4 billion MOG. They sold 154 billion MOG for $278,000 and now hold 648.4 billion MOG, valued at $1.29 million, for a profit of approximately $1.37 million.
The analysis also reveals that the investor has accumulated 352.69 million WOJAK, currently valued at $455,000. Their initial investment for WOJAK was $248,000, resulting in an unrealized gain of $207,000.
Overall, Lookonchain highlights how this smart investor used market movements and strategic buying to achieve impressive gains in the meme coin arena.
