An analysis provided by Lookonchain revealed that a savvy investor has successfully generated over $5 million through strategic trading of various meme coins, including PEPE, Mog Coin (MOG), SPX6900 (SPX), and Wojak (WOJAK).
According to Lookonchain, this smart investor made significant profits: $2.19 million on PEPE, $1.7 million on SPX, $1.37 million on MOG, and $207,000 on WOJAK.
As the price of SPX increased, the investor capitalized on this rise by selling off portions of their SPX holdings. This was to realize profits. These profits helped the investor to increase their positions in PEPE and WOJAK.
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The investor initially acquired 10.1 million SPX for $57,000 between December 19, 2023, and May 21, 2024. They sold 9.1 million SPX for approximately $1.12 million when SPX started to rise. However, the investor retained 1 million SPX valued at around $636,000. This astute trading resulted in a profit of $1.7 million from SPX alone.
The investor has been steadily accumulating PEPE since December 10, 2023. They currently possess 318 billion PEPE, valued at $3.24 million, distributed across two wallets, which reflects an impressive unrealized profit of $2.19 million.
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Show more +Starting on January 22, the investor ventured into MOG, investing $194,000 to acquire 802.4 billion MOG. They sold 154 billion MOG for $278,000, and now hold 648.4 billion MOG, valued at $1.29 million, marking a profit of approximately $1.37 million.
The analysis also notes that the investor has accumulated 352.69 million WOJAK, which is currently valued at $455,000. Their initial investment for WOJAK was $248,000, resulting in an unrealized profit of $207,000.
Overall, Lookonchain highlights how this smart investor leveraged market movements and strategic buying to achieve remarkable gains in the meme coin arena.
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