The meme coins have recently gained substantial attention, with speculations about their potential price rallies. In this respect, an on-chain analytics platform Lookonchain has disclosed the latest price spike of $KITTY coin after a prominent trader returned to the field. The analytics provider disclosed the details of this development on the official X account thereof.
The MEMEcoin $KITTY is up over 6000% due to the return of @TheRoaringKitty on Twitter.A lucky guy spent 21.1 $SOL($3K) to buy 17.4M $$KITTY before @TheRoaringKitty tweeted.After $KITTY surged, he sold 12.8M $KITTY for 294 $SOL($41K), with 4.6M $KITTY($56K) left.The profit… pic.twitter.com/TemTMpWgW7
— Lookonchain (@lookonchain) May 13, 2024
$KITTY Trader Makes Profit as the Token Spikes by 6000%
The analytics provider pointed out in its recent post on X that the person spent a huge amount in $SOL. In the words of the analytics provider, the trader spent approximately 21.1 SOL tokens. This figure reportedly equals nearly $3K. With this expenditure, the person moved to purchase KITTY tokens.
Lookonchain brought to the front that the trader reportedly bought approximately 17.4 million tokens. After the respective purchase, the person took to his official account on the social media platform X. The subsequent turn of events elevated the token to a great extent. As a result of this, the KITTY coin’s price reached significant heights.
The Price Surge Makes the Trader 32x Profit
Following this development, the trader made another move. Lookonchain revealed that the trader sold up to 12.8 million $KITTY tokens. The analytics forum also mentioned that the trader traded the respective tokens to make a profit. In this respect, he sold the coins for 294 SOL (approximately $41K). After that, the trader was left with 4.6 million KITTY (almost $56k). This provided him a profit of up to $94K, showing a 32x rise.