Trader Turns Five ETH into $3.3 Million in Three Days
Date: 2024-02-02 Author: Dima Zakharov Categories: IN WORLD
In a remarkable turn of events, an astute trader transformed five Ethereum (ETH) into an impressive $3.3 million in just three days. The crypto community was left astounded as Lookonchain analysts revealed the intricate details of this achievement.
According to Lookonchain, the trader started with five Ethereum valued at $12,000. To capitalize on the cryptocurrency market, the trader invested their ETH into a coin known as PORK. The purchase was made within seven minutes of PORK's launch. With only 5 ETH, the trader acquired a whopping 9.5 trillion PORK coins.
As the value of PORK surged, the trader sold back 6.3 trillion coins in exchange for ETH, resulting in a substantial profit of 329 Ethereum, equivalent to $765,000. This extraordinary feat led to a net profit of 324 ETH, amounting to $753,000.
The trader still holds 3.2 trillion PORK coins, valued at $2.55 million, in their portfolio.
Many followers of Lookonchain speculated that insider information might have played a role in these lucrative transactions.
PepeFork (PORK), another meme coin, took inspiration from the Pepe cryptocurrency project, featuring the iconic Pepe frog as its symbol. In 2023, this "frog" brought substantial gains to numerous investors.
The developers themselves refer to PORK as a PEPE fork. At the time of writing, according to CoinGecko data, the cryptocurrency is traded on Uniswap and MEXC.
Investing in meme coins early in the trading cycle and securing profits has become a popular tactic among crypto enthusiasts. The Lookonchain team has previously highlighted stories of traders who earned significant profits within a short time frame using this approach, such as the transformation of 1 ETH into $651,000 in just a few hours.
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