A trader has obtained significant attention in the crypto sector by expressing remarkable skills concerning swing trading with the crypto asset $POPCAT. As per Lookonchain, a prominent on-chain analytics platform, the trader obtained a huge profit of above $1M with an astounding hundred percent win rate from August 20 to October 7. Since the beginning of October, memecoin traders have earned remarkable profits while other narratives have failed to secure any significant profits. The analytics provider took to social media to provide the details of this event.
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
â Lookonchain (@lookonchain) October 8, 2024
Memecoin Trader Earns Huge Profits with $POPCAT via Swing Trades
Lookonchain disclosed that this incident commenced on the 20th of August when the trader purchased 1,579,413 $POPCAT coins. The average price of those tokens stood at $0.5245 for each coin. However, the trader sold them shortly after at an average price of $0.7220. In this respect, the trader reportedly earned up to $311,934 in total. This paved the way for a series of beneficial trades for the trader. The trader consistently carried out timely decisions including strategic sales and buys.
For instance, on the 7th of the recent month, the trader purchased 972,754 coins at an average price of nearly $0.5140. Subsequently, the trader sold these tokens at $0.5996, getting a substantial amount of almost $583,300. Another noteworthy move took place between the 21st and 25th of September. At that time, the trader conducted another effective trade, purchasing 1,544,687 $POPCAT coins at $0.8969. Following that, the trader traded them at $1.0261, with a further $199,663.
Crypto Trader Pockets $1,050,440 in Cumulative Profits from $POPCAT Trades
Although the majority of the trades turned out to be highly lucrative, a few resulted in minor gains, like those between the 25th and 29th of September. At that point, the trader got a profit of only $2813 by trading 491,682 $POPCAT coins, as per Lookonchain. The last trade occurred between the 4th and 7th of October where the trader bought 1,240,156 $POPCAT tokens at $1.1343. The trader sold them at $1.2908, netting $194,093 in profit. Thus, the precise timing and methodical approach of the trader led to a cumulative earning of $1,050,440.