The crypto market’s uncertainty brings highs and lows consistently, where predicting the future is almost impossible, but not for this crypto whale. The recent findings revealed that a savvy crypto trader with more considerable holdings has often managed to identify golden opportunities despite the chaos. More importantly, the trader earned a staggering $7M in profits, astonishing the crypto community. Let’s discuss the details of this whale’s trades and how it profited $7M from just three meme coins.
Crypto Whale Makes Millions With New Meme Coins
According to a Solonchain X post, the crypto whale is adept at identifying early opportunities, especially meme currencies that eventually reach a market cap of $100 million. In the last two to three days, the trader has earned $3 million by investing in two buzzy and trending meme coins: JAILSTOOL and CAR.
As these meme-themed cryptocurrencies gained market traction, the whale succeeded in making millions, with returns as high as 100x. Interestingly, the whale also made headlines three weeks earlier when it invested in Donald Trump’s TRUMP token.
With a series of smart crypto trading strategies and decisions, the trader earned $7M within a month.
How did the whale Earn $7M from TRUMP, JAILSTOOL, and CAR?
The whale began with the TRUMP meme coin three weeks ago, earning a $4M profit. Next comes Dave Portnoy’s JAILSTOOL coin, which surged 119,000% after Portnoy’s endorsement. In this rally, the crypto trader also benefitted, making a 100x return on initial investment.
Whale’s consistent buying indicates its confidence in the token and its skills, and the same happened because the coin moved from a $2M to a $200M market cap.
Lastly, there is the CAR meme coin, for which the whale made multiple swaps of 100 SOL for the CAR token when the price ranged between $0.0263 and $0.0403. This showcases that the crypto whale had continuously bought the token even when the CAR price began to drift.
Eventually, the whale sold at a high price, making 26.6x returns on the initial investment. The CAR’s market cap surged from $30M to $800M in this period.
These profits are more significant as all three meme coins are crashing due to high volatility, showcasing the whale’s proper judgment during the golden period.
Meme Currencies Struggles Continue
Although this crypto whale has won big on meme currencies, the category’s overall performance is still poor. An earlier CoinGape blog mentioned that the meme coin valuation had declined 37% over three weeks, facing a loss of $44 billion.
This happened as the meme coins’ market cap fell from $117.60 billion to $69.87 billion amid the market’s rising volatility, liquidity issues, investors’ bearish sentiments, and PUMP. Fun flooding the market with millions of new cryptos.
Analysts say this crash has impacted the performance of meme-themed cryptocurrencies and diverted the altcoin season. Experts also believe that the affected tokens may never hit their prime again after this crash.
However, some assets are still showing bullish momentum, and three of them made the aforementioned whale $7M.
Key Lesson From This Crypto Trading Accomplishment
The crypto whales had three back-to-back profiting experiences, earning $7M within just three weeks. More importantly, the whale took the biggest risk by investing in newly launched coins, which went right as the overall meme coins market was struggling. With this, the biggest lesson is adaptability and quick decision-making.
With the buying and selling history, it’s clear that the crypto trader is quite experienced, so the investor should just blindly copy their trading steps and do detailed research. Overall, the trader’s $7M profit in three meme currencies is astonishing, where the TRUMP, JAILSTOOL, and CAR became the best digital assets for the trader.
The post Here’s How This Crypto Whale Earns $7M in Profits In Just Three Meme Coins appeared first on CoinGape.
