Here's the breakdown:
Before $DOGS gained traction on major centralized exchanges (CEXs), it was traded at a low price of $0.00013 on decentralized exchanges (DEXs). Seizing the opportunity, the trader purchased around 55.9 million DOGS tokens with 3,271 Toncoin (TON), equivalent to $18,400. Once DOGS was listed on platforms like Binance, HTX, ByBit, and OKX, its value soared. The trader capitalized on this surge by selling 20 million DOGS for $34,600 and moving the remaining 35.9 million tokens, valued at $61,000, to a CEX, resulting in a total of $77,300—marking a 420% return on investment.
Despite the initial surge, DOGS' price dropped by over 23% following its listing, with its market capitalization reaching $640 million. Nonetheless, interest from investors and traders is growing, as indicated by a 35% increase in DOGS' open interest in the last four hours and a staggering 16,000% rise in the past 24 hours.
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