The crypto industry has become the latest hub of investors where billions of valued trades take place. This makes it an industry of $2.07 Trillion in market capitalization per Coinmarketcap data. Out of these billions of trades, not every trade is profitable, and barely a few investors could stay positive or in profit at most times. But there are a few exceptions, a few of which have a great grip on the market trends and analysis. One such crypto trader has made 100x profits in just 7 hours, showing an impressive trading skill set.
Crypto Trader Made $67K From Just $650
Lookonchain, a popular analytics platform, has made an interesting discovery, as a crypto trader has made 104 times profits by investing barely $650. The investor “TEP7…T1da” has invested in a meme coin called Sundog, where he had bought 6.87 million SUNDOG by investing 5,000 TRX (equivalent to $650) and selling them for 522,840 TRX ($68,000).
All of this happened within seven hours of the interval, where he made a profit of $67.3K, more than 100 times the initial investment. The Lookonchain data has shown that the crypto trader still has 2.29 million SUNDOG, which is another $76,000 worth of tokens.
2024 has been the year of meme-based cryptocurrencies, where so many tokens have emerged to new heights, making heavy profits for their holders. This comes more in the case of the Solana meme coins like dogwifhat, Popcat, and others like PEPE, which had the highest profits. Now Sundog has become one of those for this investor.
Sundog is another dog-themed meme coin, which is valued at $0.04609, with a surge of 71656.51% in the daily charts on Bitget. It has a trading volume of 482.92M, which is quite significant. The unsold investor’s tokens are now worth around $105,546.1 per this price.
Final Thoughts
While the crypto market sentiments are neutral per the fear and greed index, this one single investor has made $67.3k in profits within just 7 hours. The investor invested $650 into the SUNDOG, which grew heavily immediately, making him 104 times his initial investment. However, this is not the case for every trader, as deep strategic approaches and continuous market analysis are crucial to understanding how the charts will move next. The crypto trader still holds 2.29 million tokens, worth more than $105,546 per current token price of $0.04609.