Meme-themed cryptocurrencies are in high demand this year, with investors making higher and higher gains with crypto trading. As of now, the market is settling between bulls and bears, and the investors’ sentiments are neutral, indicating concerns among the investors, which is restricting many cryptos’ growth. However, these meme-themed ones are still trending, where this one memecoin trader made $1.77M in just two days.
The anticipation around these cryptos is growing even more, as the US election might trigger the crypto market rally. Now, it has to see how the memecoins will tackle the chaotic and challenging market.
Memecoin Crypto Trading Made $1.77M in 2 Days
The hype around the memecoins category has increased after the tokens like Dogecoin, PEPE, WIF, and many others went viral. As a result, newer and better meme-themed cryptos are entering the market, and many like this memecoin trader have already caught the hype, where he made $1.77M in just 2 days. More importantly, he did it when the market was volatile, and people were awaiting US election results to determine the future of crypto trading.
This profiting experience came true after the trader invested in 62 tokens in just 15 days and established a winning rate of 43.55%. Here, he has bought the most hyped cryptos like $Pnut, $HIMA, $ProjectSid, and $RIPETH and is carrying $955K in unrealized profits per Lookonchain data.
This #MEMEcoins hunter made ~$1.77M profit on $Pnut in just 2 days!
This trader started trading #MEMEcoins 15 days ago and has traded 62 tokens with a win rate of 43.55%.
He caught $Pnut, $HIMA, $ProjectSid and $RIPETH, and has realized a profit of $955K in just 15 days!… pic.twitter.com/4cejoUTphN
— Lookonchain (@lookonchain) November 2, 2024
Interestingly, the trader has also borne significant losses, but it is part of the crypto market where losses are common. However, one significant gain can cover all those losses, and the same has happened here as the memecoin trader made $1.77M in just 2 days in $Pnut alone, recovering any previous losses.
Crypto Trading Strategies That Helped With These Gains
The crypto market faces hundreds of challenges, and random fluctuations are common, impacting any token’s performance. As a result, crypto trading strategies should be used to ensure significant profits and minimize losses. The memecoin trader has utilized simple yet effective trading strategies. Beginning with the diverse token exposure, the trader invested in 62 tokens. Out of which, some failed, but the remaining maintained a positive portfolio. It is one of the simplest tricks that almost everyone uses, including newcomers and experienced ones.
The next trading strategy is on-time entry and exit from the trade. In this case, the trader bought and sold the $Pnut token flawlessly, making $1.77M. Otherwise, there are incidents explaining how wrong timing led to heavy losses. Even a crypto trader lost $454K after panic selling at the wrong moment just some time ago, becoming the best example of how wrong-time exits are risky.
Last but not least, the memecoin trader did not let the losses hold him back, as despite the losses, he continued to trade and explore popular cryptos. As he continued to focus on high-potential trades without fearing the losses, he succeeded with returns in the end, indicating how the market rewards those who do not hold back because of fear.
What Is The Lesson Here?
The biggest lesson from this memecoin trader’s experience is that the crypto market is full of ups and downs, and investors should stay prepared for everything. Some days, the trades would not work, but the rest would if they followed the right crypto trading practices. More importantly, the investor should not feel intrigued after witnessing such stories, as such high gains do not happen often. It is because there are higher risks with memecoins due to their high volatility and short trends. However, this also does not mean that no one should go for these meme-themed cryptocurrencies. Instead, it hints that the investors should research well, analyze the trends, dilute their portfolio, and much more to win the crypto market.
The post Here’s How This Memecoin Trader Made $1.77M in 2 Days? appeared first on CoinGape.
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