An anonymous meme coin hunter spent 200 ETH worth nearly $363k to purchase 239 billion Pepe tokens and also spent 165 ETH valued at $300k to buy 3.98 billion RFD tokens. In just 2 days, he made a profit of 102 ETH [$185K] on RFD.
Onchain data platform Lookonchain which has been tracking the mysterious buyer’s movements for quite some time revealed that he earned over $2 million on $PEPE on May 22.
He also bought other 3 tokens recently, which are currently at a loss.
Lookonchain noticed that the ‘hunter’ traded RefundCoin [RFD] and Pepe Coin [PEPE] to fraudulently increase his funds by 4 and 32 times, respectively. The trader earned $345k by dealing with the first meme coin and $248k by dealing with the second.
The data tracker claimed that this person is unlike your typical market participant since he “is very good at finding potential tokens and investing heavily.”
The mysterious meme coin trader spent $81.5k and purchased 74.5 billion tokens in order to make a $345k profit on RFD.
He subsequently sold 71.3 billion tokens for $427 000, realizing a profit of around $350 000. Over the last month, Lookonchain provided details on the win rate and the number of tokens the trader chased.
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%. This guy is very good at stopping losses, at most he lost 6 $ETH [$11,306] on RIBBIT.
Along with RDF, PEPE, and WOJAK, his list of the most profitable tokens also included tokens like SHROOMS, FOXE, FOUR, and PPIZA. Conversely, the tokens where he ultimately suffered losses included CATTO, CFA, RIBBIT, SIGMA, etc.
Meme coins have attracted substantial attention in the wide and constantly changing world of cryptocurrencies, and stories like the one above only increase the excitement of early investors in their potential to provide extremely high profits.
OG Meme Coin Advocate Issues Warning For Investors
Elon Musk, the proponent of the OG meme coin DOGE, in an interview, stated that he is unable to give investment advice to individuals about how to invest in the crypto market.
Nevertheless, the tech mogul noted that DOGE is his preferred digital asset because “it has the best humor and it has dogs.”