A crypto investor made $3.4 million from an initial investment of $1,300 in only 15 days. Keep reading to know all the details about this considerable profit.
This Crypto investor was able to make over 2500x of his investment.
How It Happened
On September 25, Lookonchain revealed the success story of a trader on the Solana blockchain. According to blockchain data from Solscan, this investor sold 9.8 SOL, valued at $1,331, to buy 38.7 million MOO DENG tokens on September 10th. After the investment, the next two weeks saw the price of MOO DENG soar through the roof, moving $1,300 to $3.4 million.
While some people celebrate this win, others see some red flags. The massive growth of the MOO DENG token left some baffled about whether good luck was at play. Some community members believe this investor might have had inside information or be a token developer.
This guy turned $1,331 into $3.4M in only 15 days, a 2,554x return!
He spent 9.8 $SOL($1,331) to buy 38.7M $MOODENG on Sept 10, now worth more than $3.4M!https://t.co/ADTPSX1IgI pic.twitter.com/3BMBD7Um26
— Lookonchain (@lookonchain) September 25, 2024
Why? According to the report, the MOO DENG pool had very low liquidity at only $1.8 million. This means that while the trader has $3.4 worth of tokens on paper, he couldn’t sell the total holdings at the current market price.
As the token’s price increased, people started to suspect that this trader may not have been lucky. Despite these unanswered questions, people want the same returns as the trader.
Another Big Winner
Funny enough, this is not the first instance of a recent massive return on a small investment stake. The next day after the Moo Deng story, Lookonchain discovered another crypto trader who amassed $95 into $96900 in less than 12 hours.
This time, he levered on INCEPT tokens, and the price of this token rocketed to over 1000 times in no time. However, as we saw in the MOO DENG scenario, most of the sizeable profit-generating wallet addresses operating within INCEPT are ‘inside jobs.’
Unbelievable!
Turned $95 into $96.9K in just 12 hours—more than a 1000x return!
Many of the wallets that made ~1000x profit on $INCEPT appear to be insider wallets. They were all created 4 days ago and have only traded $INCEPT.https://t.co/AvNHFbRjpO pic.twitter.com/aOm3z1VXAx
— Lookonchain (@lookonchain) September 26, 2024
Conclusion
A proper crypto investor will milk the market regardless of market conditions. Cryptocurrency and its related products are fantastic things that can happen to anyone. But they also bring along lots of risks. Whether a lucky investment in a memecoin or a long-term investment strategy, crypto remains a space where fortunes can change in the blink of an eye.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
The post Crypto Investor turns $1,300 into $3.4 million in 15 days appeared first on Altcoin Buzz.
This articles is written by : Fady Askharoun Samy Askharoun
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