A cryptocurrency trader reportedly rolled out a maximum profit of around $652K during the Memecoins frenzy. Lookonchain, a crypto analytical firm, shares the states of the trades through its X official account. Rebranding of Ton Blockchain’s logo to RedoToken acted as a catalyst for his trades.
After the logo of @ton_blockchain changed to @redotoken, the price of #MEMEcoin $REDO surged ~200%!A trader sold all 881K $REDO for a profit of 107,275 $SOL($606K), a 12x return!This trader also made 5,207 $TON($29.4K, 35x return) on $TINU and 3,118 $TON($17.6K, 62x return)… pic.twitter.com/rW6acclx8k
— Lookonchain (@lookonchain) August 26, 2024
Ton changed the logo to Redo Token to show solidarity with the Telegram CEO, who was arrested in France on Saturday. $REDO, also known as the Resistance Dog, is a memecoin launched as a symbol of resistance against censorship. Many other platforms have also supported Ton in this move. The collective support resulted in a huge increase in trading volume of $REDO ultimately resulting in a 2x increase in its price.
As per stats, the trader pointed out by LookOnChain traded 11 memecoins and his trades proved to be fortunate as he made a large sum of profits. Mainly, he made maximum profit through RedoToken ($REDO), which surged by 200%. Additionally, after the launch of SunPump, Memecoins are now ruling the crypto market.
RedoToken ($REDO) Surges 200% After TON Blockchain Logo Change
Recently, $REDO’s price skyrocketed by 200% after TON Blockchain announced changing its logo to the RedoToken. This sudden spike in the price of $REDO has caught the attention of many cryptocurrency traders. Out of these traders, one particular trader took advantage of the opportunity and sold his whole $REDO holding (881K $REDO) and yielded a profit of $606k in $SOL. He purchased 107,205 $SOL which is worth 12 times the return.
Cryptocurrency Trader Invested In 11 Memecoins
Memecoins frenzy is at its peak these days after the launch of SunPump. Many crypto investors are eyeing the crypto market that is being ruled by memecoins. A savvy trader hit the opportunity and invested in 11 different cryptocurrencies and made a collective profit of $652K in a short time through savvy trades.
Most significantly, trades invested in $REDO, $TON, $TINU, and $PLANE. He made $29.4K, 35 times return profit through trading $TON on $TINU. Moreover, he rolled out 62 times return upon trading 3,118 $TON. Collectively he made $652K through trading Memecoins with a win rate of 54.5%.
