Cryptocurrency Trader Multiplies $18,000 to $77,000 in Just Two Hours

The cryptocurrency sector is ever-transforming, presenting lucrative returns for crypto traders who enter and exit the market at the right moments, as exemplified by a cryptocurrency investor who realized close to $60,000 in profit within a few hours by trading meme-based digital assets.

In detail, this astute trader utilized 3,271 Toncoin (TON)—equal to $18,400—to purchase around 55.9 million Dogs (DOGS), a token influenced by a beloved dog character associated with Telegram‘s creator Pavel Durov. This transaction was based on information from Lookonchain reported via a social media post on August 26.

Subsequent to the purchase, the mentioned crypto enthusiast divested 20 million DOGS for 6,150 TON totaling $34,600 and transferred the residual 35.9 million DOGS to a well-known crypto trading platform, cumulating profits amounting to $77,300, or an impressive upsurge of +420%.

Significantly, these trades unfolded in a span of just two hours, initiated when DOGS traded at a modest $0.00013 on a Decentralized Exchange (DEX), STON.fi, preceding its introduction on the centralized exchange KuCoin.

It’s notable that during the 2023 and 2024 market uptrends, meme coins such as DOGS drew significant attention due to their association with internet culture and celebrity endorsements, though often lacking substantial underlying value. Examples include coins endorsed by personalities like Andrew Tate and Iggy Azalea with tokens DADDY and MOTHER, respectively.

Contrastingly, Telegram-affiliated cryptocurrencies have seen a spike in demand and trading volume following the arrest of Telegram’s billionaire CEO by French authorities, under accusations of condoning illicit activities on his app, as documented by Finbold.

Analysis of DOGS Token’s Value

At the time of writing, the price of the Dogs token was at $0.001198, indicating a 26.18% fall on its daily trajectory and a 20% decline from the price point at which the savvy trader executed their sale, as per the latest figures from DEX Screener on August 27.

Ultimately, the aforementioned crypto trader exemplified market timing to their benefit and realized substantial gains. Nevertheless, caution and thorough due diligence are of utmost importance when participating in any asset trade, especially in the case of meme coins, due to their tendency for high volatility within the cryptocurrency market.

Disclaimer: This content is not intended as investment advice. Investing involves risk and the possibility of losing capital.