Date: Thu, August 02, 2024, 04:51 AM GMT
The cryptocurrency market took a hit yesterday, with top assets like Bitcoin (BTC) and Ethereum (ETH) dropping over 6% due to rising geopolitical tensions. In this bearish market, many investors started booking profits, including a particularly pro trader who made headlines with impressive gains in Mog (MOG) and Pepe (PEPE) memecoins.
In a recent post on X (formerly Twitter), Lookonchain shared details of this impressive trading feat. The trader spent 138.4 ETH (approximately $262.5K) to buy 7.1 trillion MOG between August 20 and December 17, 2023. From May 27 to August 1, 2024, they sold 786 billion MOG for 375 ETH (around $1.29M), leaving them with 6.3 trillion MOG worth $10.2 million.
In addition to their success with MOG, the trader also capitalized on PEPE. They withdrew 515.42 billion PEPE (worth $861K) from KuCoin on May 15 and July 5, 2023. Later, they deposited 95 billion PEPE (valued at $1.08M) back to KuCoin on March 30 and May 24, 2024, leaving them with 420.42 billion PEPE worth $4.18 million.
The trader transferred the remaining 6.3 trillion MOG (valued at $10.2 million) and 420.42 billion PEPE (worth $4.18 million) to a new wallet.
Disclaimer: This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments are highly volatile and risky. Always conduct your own research and consult with a professional before making any investment decisions.