Whale Trader Banks Eye-Popping $16M Profit On Two Popular Meme Coins Not Named Dogecoin Or Shiba Inu
Portfolio Pulse from Khyathi Dalal
A whale trader made significant profits on meme coins Mog Coin (MOG) and Pepe (PEPE), earning $11.22 million and $4.4 million respectively. The trader's strategy involved buying low, selling high, and transferring remaining assets to a new wallet. This highlights the potential for substantial gains in meme coins, albeit with associated risks.
August 02, 2024 | 12:06 pm
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POSITIVE IMPACT
The whale trader's initial investment in Mog Coin and Pepe was made using Ethereum (ETH), indicating a significant use case for ETH in high-stakes trading.
The trader's use of Ethereum for purchasing meme coins demonstrates its utility in significant trading activities, potentially boosting demand and price for ETH.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
The whale trader made a 510% gain on Pepe (PEPE), highlighting its potential for high returns. However, the trader's actions may also introduce volatility.
The significant profit made on PEPE by the whale trader underscores its potential for high returns, which could attract more investors. However, the large transactions may also lead to increased volatility.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100