A new trend emerged in the cryptocurrency world in the middle of this year, and as a result, thousands of new tokens were created. While some of these projects provided great profits, it was seen that some of them were just rug pulls. In this process, it was seen that a cryptocurrency investor recently purchased not just one, but multiple meme coins. It turned out that the purchases/sales that took place in this process provided great profits depending on the right timing.
Investor’s Moves on Meme Coin
According to the information shared by Lookonchain, one of the important tracking platforms of the market, on August 26, the mentioned cryptocurrency investor, especially Toncoin (TON) and preferred to make transactions specifically for cryptocurrencies related to the Telegram ecosystem. It would not be wrong to say that this whale has achieved a large profit rate in general, despite its high-profit transactions and losses. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Among the trading transactions carried out by the mentioned investor in this process, the one that gained value with the change of the TON blockchain logo to REDO Resistance Dog (REDO) coin is included. While it was seen that the $ 50,500 invested by the person gained 12 times in value, it was reflected in the graphs that it reached 107,275 Solana (SOL) or $ 606,000 profit and it is known that it also made some sales.
The same investor’s versatile utility token of the TON network From Ton Inu (TINU) It was understood that it had made a 35-fold gain, earning 5,207 TONS, or $29,400. On the other hand, it was claimed that it represented a stance against online censorship. From Paper Plane (PLANE) It was seen that it had achieved a return of 3,118 TONS or in other calculations, 17,600 dollars, or 62 times.
Total Profit of Crypto Investor
When all of this is put together, the investor in question invested 13,207 TONs to purchase these 11 meme coins, which at current prices would be worth $74,487 in total. He then sold 128,593 TONs, or $725,264, for a profit of 115,387 TONs, or $650,782, or 874%.
While all this is happening, TON, which rose to $ 7 in recent days, is now trading at $ 5.63 after a 5% drop. According to information shared by Russian sources in the past hours, Telegram founder Pavel Durov It was stated that the detention period would end on August 28.
If we look at the investor’s situation, it is striking that there are transactions where he has made big profits but is also at a loss. This situation reveals the view that it is not always possible to act correctly, and it would be beneficial for investors to remember that the high volatility of meme coins can cause big losses.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
