One trader made an amazing trade and earned $2.7 million in three days work trading a memecoin called $MAGA. This incredible altcoin profit equates to a return on investment (ROI) of 505%, according to Lookonchain data.
In just 3 days, this trader made $2.7M by trading $MAGA, with an ROI of 505%!He spent $537.5K to buy 6B $MAGA on May 24 and May 25, then sold 1.5B $MAGA for 744K $USDT to take profits 10 minutes ago.He currently holds 4.5B $MAGA, worth $2.51M.https://t.co/KaRYLuELKN pic.twitter.com/Pgd5hKVpc5
— Lookonchain (@lookonchain) May 27, 2024
$MAGA Altcoin Trader Sells $744K, Retains 4.5B Tokens Worth $2.51M
On May 24 and May 25, the trader’s $537,500 bought them a total of 6 billion $MAGA tokens. Since then, the trader held onto his or her gains for a brief amount of time to sell some. Today, the trader sold 1.5 billion $MAGA tokens for $744,000 worth of $USDT, a stablecoin that is often used for trading due to its stable value.
The trader still holds a substantial amount of the $MAGA tokens despite having sold off some. As of now, the trader has 4.5 billion $MAGA tokens, worth around $2.51 million at the current market price.
MAGA Token Trade Highlights Crypto Market Volatility and Rewards
These kinds of fast and lucrative trades that are bringing more investors into the volatile and high-reward world of cryptocurrency trading. While it is eye-wateringly easy to make vast sums in only a few hours, it also highlights the sheer volatility and risks of trading digital assets. To profit from price fluctuations, traders must remain vigilant to changing market dynamics and respond quickly.
To sum it up, this trader’s purchase in the strategic and subsequent sale of $MAGA tokens gave them a substantial return. As per Lookonchain, he has made half a million in investment, with trades. The trader ultimately made bank within a matter of days Having 4.5 billion $MAGA tokens left after the sale. Consequently, it appears additional upside still exists for what remains of the trader’s holdings which is currently worth more than $2.5 million earned from this trade alone.