A crypto whale recently made headlines by securing a 420% profit on the newly launched DOGS token, a Telegram-based memecoin. According to data from Lookonchain, the trader capitalized on early trading opportunities on decentralized exchanges, purchasing DOGS tokens at a low price and selling them for significant gains as the token was later listed on centralized exchanges.
By spending $18,400 in TON to acquire 55.9 million $DOGS tokens, the trader sold 20 million tokens for $34,600 on a decentralized exchange and transferred the remaining 35.9 million tokens to centralized exchanges, netting an additional $61,000. This savvy strategy resulted in a total profit of $77,300, demonstrating the potential for substantial gains in the volatile world of altcoins.
*Disclaimer: This is not investment advice.
