As of today, the entire crypto market is following a downtrend, and all the crypto trading opportunities are surrounded by losses. In this poor market, a crypto trader has made $3.37M in profits, defying the odds. It all happened after one of the popular meme coins, Popcat’s price, rose to new highs, making hefty profits for its holders, including this one.
The crypto market is full of opportunities, where just the right crypto trading methods can make heavy gains. However, it is not easy because an asset’s performance is dependent on hundreds of factors.
Popcat Crypto Trading Made $3.37M Profit For The Investor
A Lookonchain X post revealed how a crypto trading incident made millions for one investor. The post explains that the crypto trader has been holding Popcat for almost a month and has begun selling once the token price has increased heavily.
The trader spent around 4.13M USDC tokens to buy 6.11 Popcat on September 12, 2024. He bought these tokens at an average price of $0.68 and kept them in two crypto wallets. However, on October 7, this investor sold 2.66M tokens for $3.61 Million ($1.36 per token), making a profit of $1.47 Million on this transaction. This heavy profit was the result of the Popcat price hitting an ATH.
This smart whale sold another 3.13M $POPCAT($3.65M) at $1.16 in the past 24 hours, making $3.37M on $POPCAT in just one month!
Previously, this whale had already made $1.47M on $POPCAT!
Excited to see his next trade on $POPCAT!https://t.co/S4NP14IuHC pic.twitter.com/Z4Ht2ko7hT
— Lookonchain (@lookonchain) October 10, 2024
After that, he still kept holding 3.45M tokens, worth $4.48 M at the $1.36 price. However, the crypto trading opportunity has emerged again today for this crypto trader, as he sold another 3.13M tokens, worth ($3.65M) per the token price of $1.16. With this, he has made $3.37M with this cat-themed coin in just one month, including the first trade as well.
Now, the crypto trader still has another 0.31M Popcat, which is equivalent to $359,600. Additionally, the netizens are curious about when this investor will sell his remaining holdings and how much he will make this time. This gets more interesting as the Uptober crypto rally is anticipated to happen this month, pushing tokens towards highs.
How Popcat is Performing Today?
Popcat popularity rose right after its launch, as people were looking for new profiting meme coins after PEPE & BONK. The first few weeks were quite slow, but ever since then, the Popcat price has grown significantly, with a minor downtrend here and there. Just recently, it achieved an all-time high of $1.48 after 14483% growth in YTD. With this, it has become the 7th largest meme-themed cryptocurrency.
Today, the Popcat price has moved away from the ATH, currently at $1.18, maintaining a surge of 19% over the week, but there is a minor fall of 1% on the 24-hour charts. Moreover, it has a market cap of $1.15 billion and a trading volume of $108 Million, after a significant drop from the peak. However, there is a strong buying pressure on the token, which indicates the possibility of further gains. If it crosses the second resistance at 1.2172, an uptrend might begin for this token.
Final Thoughts
The crypto trading industry is full of opportunities, but only those who can identify these. The prime example is this crypto trader who invested millions in buying a mere token but almost doubled his investment in just one month. It happened because the token he invested in, Popcat price, has surged to a new all-time high, making heavy profits for the holders. The token is still bullish, and many analysts anticipate new gains if an uptrend begins in the next few days.
The post Here’s How a Crypto Trader Made $3.37M Profit in 1 Month appeared first on CoinGape.
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