Man Makes $1 Million in Meme Coins: Trades Pepe Coin, 100+ Other Tokens

Lavina Daryanani
Source: EquityPandit

The crypto market has not seen any action unfurl lately. Bitcoin has been stuck around $26.7k, while Ether has been hovering around $1.8k. Parallelly, the price of most other large and mid-cap assets continue to register negligible movements. As a result, the total crypto market cap has not been able to advance beyond $1.2 trillion. In fact, it shrunk down by about 1.89% over the past day. Even amid the humdrum conditions, traders continue to make money. A recent analysis thread by Lookonchain revealed that a ‘super meme coin hunter’ earned $1.06 million in just a month’s time.

According to the on-chain smart money tracking platform, the ‘hunter’ managed to inflate his funds by 4 times and 32 times by trading RefundCoin [RFD] and Pepe Coin [PEPE]. Specifically, the trader made $345k by trading the former meme coin and $248k by trading the latter.

Also Read: Dogecoin: ‘Majority’ of $55 Million Meme Coin Liquidity Supports DOGE

Trader boasts of a 63.5% win rate

According to Lookonchain, the participant “is very good at finding potential tokens and investing heavily.” To reap the aforementioned $345k profit on RFD, the trader forked out $81.5k and bought 74.5 billion tokens. Eventually, he sold 71.3 billion tokens for $427k and ended up fetching a realized profit of nearly $350k. Revealing how many tokens the trader hunted over the past month and elaborating on the win rate, Lookonchain tweeted,

“The super meme coin hunter traded a total of 104 tokens in the past month, of which 66 tokens were profitable, with a winning rate of 63.5%.”

Apart from RDF and PEPE, WOJAK, tokens like FOUR, PPIZA, SHROOMS, and FOXE were a part of his top profitable tokens list. On the other hand, RIBBIT, CFA, CATTO, SIGMA, etc. were the tokens where he ended up losing money. According to Lookonchain,

“This guy is very good at stopping losses, at most he lost 6 $ETH [$11,306] on RIBBIT.”