Speculators have recently noted a new success story in the cryptocurrency world, where it only takes one dramatically shifting circumstance for a person to become a millionaire overnight. Lookonchain has presented data on a smart money investor who has accumulated incredible profits by investing in tokens like PEPE, SPX, MOG, and WOJAK.
What a smart money!
Made $2.19M on $PEPE, $1.7M on $SPX, $1.37M on $MOG, and $207K on $WOJAK!
1/ Let’s dig into his trades to see what he is buying! pic.twitter.com/s9YMC3ZbhM
— Lookonchain (@lookonchain) October 17, 2024
PEPE Token: The $2.19M Success
According to Lookonchain, the smart investor has been actively buying PEPE tokens since December 2023. The investor currently has 318B $PEPE with an unrealized profit of $2.19M. This massive accumulation indicates belief in the future of the meme-based token.
SPX: $1.7M Profit
The other huge trade was in $SPX, where the investor made gains of $1.7M. This gain was achieved using the following strategy: purchasing SPX tokens worth $57,000 in the form of 10.1M tokens between December 2023 and May 2024. The trader was extremely lucky to do so just as the price increased and sold 9.1M tokens for 1.12M dollars while keeping 1M.
The price movement of $SPX has attracted a lot of retail traders, and this particular trade shows how trading should be done with effective buying and selling, producing the maximum return.
MOG Coin: $1.37M Profit
The trader invested in MOG coin for the first time on the 22nd of January, 2024, with $194,000 to purchase 802.4B tokens. This strategic move came in handy when the trader sold 154B MOG for $278,000, realizing a profit of $1.375M.
Currently, it has 648.4B MOG worth roughly $1.29M, which indicates the investor is relatively passive, waiting for the market to be in the right position to sell for even more.
WOJAK: A $207K Play
Another meme coin, WOJAK, also posted higher returns for this smart investor. Since the start of December 2023, the trader purchased $248 K worth of $WOJAK, of which 352.69M tokens at an unrealized profit of $207K have been accumulated.
Prices of WOJAK have been volatile in the past year. Still, the investor’s capacity to make profits from these movements is a sign of the investor’s mastery of the cryptocurrency market.
Wrap up
These smart money profits are a good lesson for existing and potential investors. The key takeaway from this trader’s success is the importance of timing, diversification across assets, and keeping an eye on market trends. Regardless of whether you invest in meme tokens such as $PEPE and $WOJAK or long-lasting tokens of $SPX and $MOG, well-considered risks and careful planning can help you achieve high profits.