In a remarkable feat of crypto trading, an unnamed trader managed to turn an initial investment of $125.5K USDC into over $1.6 million in profits in just 14 hours. This windfall came from adeptly trading in the meme coin $WEN, a Solana-based meme coin that had just opened up for trading. The details of this lucrative trade were reported on X by @lookonchain.
Quick Profits in a New Token
According to @lookonchain, the unnamed trader first purchased 20 billion $WEN coins when the token started floating on exchanges. With his initial $125.5K USDC outlay, he was able to acquire a sizable position in this new offering. Just 14 hours later, he sold 12.5 billion of his $WEN coins and realized a profit of $682K USDC.
In addition to banking his quick six-figure profit, the trader continues to hold 7.6 billion $WEN coins currently valued at $941K USDC, as per @lookonchain. This remaining position represents an unrealized profit thus far of $941K. All told, his profits from this single deft trade total over $1.6 million.
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