The cryptocurrency market is full of surprises from every angle. A trader successfully traded his designated altcoins, converting 50 ETH to 480 ETH. So how did he achieve this?
Master trader made 128X profits with meme-based altcoins!
In the fast-paced world of cryptocurrency, where fortunes can be made or lost in minutes, one person caught the attention of the crypto community. According to Lookonchain, this talented trader has been shrewdly trading meme-coins throughout the month of May. Thus, he managed to convert a modest investment of 50 ETH to an astonishing 480 ETH. What is even more remarkable is that the trader earned an impressive 64 ETH in a single day using only 0.5 ETH on MMVG, resulting in an extraordinary return of 128 times his initial investment.
Crypto analytics platform Lookonchain recently reviewed the trader’s strategies. Accordingly, he gained valuable information about his achievements. It is important to note that following this person’s footsteps blindly may not produce the same results for every trader. However, there are certainly valuable lessons to be learned, especially for those with coding expertise.
What strategy does the trader follow?
The trader’s trading frequency is astounding. Because, on average, it performs a transaction every five minutes. This indicates an active and diligent approach to their craft. It also uses a high gas fee, implying they are willing to pay a premium for faster transactions and better market positioning. This selection demonstrates a deep understanding of the crypto landscape and the importance of timing.
One of the trader’s greatest strengths lies in his coding competencies that allow him to optimize his trades and take advantage of the opportunities in the volatile meme-coin market. For those with coding skills, studying trading strategies can be a fruitful endeavor. A closer examination of the trader’s approach reveals some intriguing aspects. To take the MMVG example, the trader acted quickly, buying tokens right after the pool was created, usually within 10 minutes. By doing this, he aims to gain an advantageous position early on and not miss out on potential wins.
Another important element of their methodology involves validating tokens immediately after purchase. This allows the investor to quickly execute the sales without delay. Thus, it eliminates the risk of missing the best sales opportunities due to the need for approval. It also seems that the trader can use a limit price strategy by determining the amount to be sold at a given time. By doing this, it protects itself against the regret of missing out on sharp price fluctuations as it sells all of its tokens at once.
While strategy is guiding, there is no certainty in the crypto world!
cryptocoin.com As we mentioned, when the trading patterns of other addresses in the meme-coin market are examined, it is seen that many people buy these altcoins when the pools are first created and immediately sell them for profit. However, average returns tend to be about twice the initial investment. This demonstrates the skill and expertise of our featured trader to achieve outstanding results. Specifically, the trader has developed a method to immediately recover their capital by selling the altcoins he has obtained. This approach minimizes losses. It also allows for a consistent flow of trading activity.
All in all, the trader’s ability to convert a modest investment of 50 ETH to 480 ETH and earn 64 ETH in a single day through strategic trading of meme-based altcoins demonstrates their expertise and understanding of the crypto market. Frequent trades, high gas fees, coding proficiency and strategic timing are factors that contribute to their success. There is no guaranteed plan for success. However, this trader’s methodology provides valuable information in the field of cryptocurrency trading.
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