A cryptocurrency trader has earned over $1 million swing trading the memecoin $POPCAT. The trader made a remarkable profit through eight trades since August 20. According to Lookonchain, an on-chain analytics provider, the trader had a 100% win rate during this period.
This trader is really good at swing trading $POPCAT!
He has executed 8 trades on $POPCAT since Aug 20, with a 100% win rate and a total profit of over $1 million!
Address: https://t.co/YssVSskTOnhttps://t.co/CHHiES9nGy pic.twitter.com/eSWAK3U678
— Lookonchain (@lookonchain) October 8, 2024
The trader’s strategy started with buying 1,579,413 $POPCAT tokens at an average price of $0.5245. The trader then sold the tokens at $0.7220, making a profit of $311,934. This was the first of several profitable trades, with each timed well to maximize earnings.
One of the biggest trades happened between September 21 and September 25. The trader purchased 1,544,687 POPCAT tokens at $0.8969 and later sold them at $1.0261, making another $199,663. Other trades also made substantial gains, such as the one between September 10 and September 14. In that trade, the trader bought 1,202,931 tokens at $0.6235 and sold them at $0.7281, for a profit of $125,801.
While most of the trades made large profits, a few had smaller gains. For example, between September 25 and September 29, the trader earned just $2,813 from selling 491,682 tokens. But even smaller trades contributed to the over $1 million total. The final trade happened from October 4 to October 7, when the trader bought 1,240,156 tokens at $1.1343 and sold them at $1.2908, making $194,093.
Overall, the trader’s approach led to a profit of $1,050,440. This success shows how profitable swing trading in the volatile memecoin market can be, especially with careful timing and execution.
At press time, POPCAT was trading at $1.24, reflecting a 11.06% drop over the past 24 hours. The market capitalization stood at $1.22 billion, down by 11.06%. In terms of trading volume, $POPCAT recorded $179 million in the last 24 hours, a 3.24% decrease.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
