Although the cryptocurrency market can offer massive opportunities for individuals carefully timing their crypto trades, some are proving to be savvier in this than others, including one trader who has managed to profit over $1 million in less than two months trading a particular meme coin.
As it happens, this crypto trader has profited a total of more than $1 million by swing trading Popcat (POPCAT), with a 100% win rate, since August 20, or in seven weeks, according to the data shared by blockchain analytics platform Lookonchain in an X post on October 8.
Crypto trader’s POPCAT trades. Source: Lookonchain
Indeed, the trader has executed eight carefully timed trades on POPCAT since that date, and the most recent one took place from October 4 to October 7, during which they netted $194,093, bringing the total up to $1,050,440 profited between August 20 and October 7.
POPCAT price analysis
Meanwhile, POPCAT was at press time changing hands at the price of $1.24, reflecting a 15.04% dip in the last 24 hours but still recording an increase of 19.36% across the previous seven days and climbing 137.62% over the month, according to the most recent data on October 8.
POPCAT price 7-day chart. Source: CoinMarketCap
Interestingly, the above crypto trader is not the only person profiting from POPCAT, with another example including a whale that made a staggering $4.4 million in less than a month trading it, after spending 4.13 million USDC to buy 6.11 million POPCAT at $0.68 and then selling it at around $1.40.
Elsewhere, other meme coins that have brought significant profits to their careful traders this year include Sundog (SUNDOG), Mother Iggy (MOTHER), Dogs (DOGS), Simon’s Cat (CAT), Resistance Dog (REDO), Ton Inu (TINU), and others, as pet-themed tokens dominate.
All things considered, while this meme coin has brought massive gains to the crypto traders trading it, imitating their actions comes with a great risk of loss, so extreme caution and detailed research are necessary when investing substantial amounts of money this way.
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