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The trader earned $651,000 on memcoin after investing about $3,000

Altcoins: The trader earned $651,000 on memcoin after investing about $3,000

An unknown investor has made a fortune of $651,000 on the SNOW memcoin after investing less than $3000.

This achievement was reported by the analytics company Lookonchain.

On January 24, 2024, the investor purchased about 387 trillion SNOW tokens, representing a significant 43.5% of the total supply. The purchase was made for just 1.31 ETH.

Shortly thereafter, the investor began selling 2 trillion SNOW tokens at a time, and eventually got sold 72 trillion tokens for 53.4 #ETH (equivalent to $119,000 USD at the time).

This clever maneuver resulted in a net profit of $116,000 for the investor.

Currently, the investor still owns a sizable balance of 314.9 trillion SNOW tokens, representing 35.4% of the total supply. Thus, the investor's unrealized gain is approximately $535,000.

Interestingly, a similar case happened earlier with an unknown #trader who made a huge amount of money on the TROLL memocoin - 1.15 million dollars.

Similar things happen with trading bots. Recall, earlier we wrote a story about how a trading bot earned $1.9 million in 20 seconds.

In all these cases, traders and developers showed exceptional ingenuity and took advantage of profitable opportunities in the cryptocurrency market. Their success is a testament to the fact that there are significant profits to be made in this exciting market.

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