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 <p class="paragraph">Another crypto trader has made waves in the cryptocurrency market with impressive results trading on the decentralized finance (DeFi) ecosystem. The trader made over $1.4 million in unrealized profits with the meme coin PEW on Ethereum (ETH).</p>
 <p class="paragraph">As developed, the address starting with ‘0x8EF73‘ bought 27.05 billion PEW with 3.2 ETH, worth $12,300. <em>Lookonchain</em> spotted and reported this crypto <a rel="noopener noreferrer nofollow" title="trader" href="https://thebittimes.com/tag/trader.html">trader</a>’s activity on May 31 in a post on X.</p>
 <p class="paragraph">Notably, ‘0x8EF73’ already sold 8.05 billion PEW for 83.5 ETH, worth $315,000—over $300,000 in realized profit. As of this writing, the monitored account holds 1 billion PEW worth $61,000.</p>
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 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="455" src="https://cdn.thebittimes.com/images/2024/06/01/a9c621b3e5f0e79449813f1d4e2b6a9b.webp" alt="" class="wp-image-180049" srcset="https://cdn.thebittimes.com/images/2024/06/01/a9c621b3e5f0e79449813f1d4e2b6a9b.webp 1024w, https://cdn.thebittimes.com/images/2024/06/01/a9c621b3e5f0e79449813f1d4e2b6a9b.webp 300w, https://cdn.thebittimes.com/images/2024/06/01/a9c621b3e5f0e79449813f1d4e2b6a9b.webp 768w, https://cdn.thebittimes.com/images/2024/06/01/a9c621b3e5f0e79449813f1d4e2b6a9b.webp 1536w, https://cdn.thebittimes.com/images/2024/06/01/a9c621b3e5f0e79449813f1d4e2b6a9b.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   PEW/WETH on Uniswap. Source: <em>Lookonchain</em>
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 <p class="paragraph">However, <em>Lookonchain</em> explained that this same trader holds 18 billion more PEW, evenly distributed in 15 other addresses. These holdings are traced back from the first purchase, which happened just three minutes after the meme coin started trading on Uniswap (UNI), Ethereum’s main decentralized exchange (DEX).</p>
 <p class="paragraph">The crypto <a rel="noopener noreferrer nofollow" title="trader" href="https://thebittimes.com/tag/trader.html">trader</a> holds a $1.42 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> stash of this new meme coin four days after the purchase.</p>
 <h2 class="wp-block-heading" id="h-the-crypto-trader-may-have-liquidity-issues-in-realizing-the-1-4-million-profit">The crypto trader may have liquidity issues in realizing the $1.4 million profit</h2>
 <p class="paragraph">Interestingly, the meme coin that goes by the name “pepe in a memes world” (PEW) has only $7.5 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in total value locked (TVL) on Uniswap. This metric translates into the available liquidity to swap PEW with other ERC-20 tokens on the platform.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="567" src="https://cdn.thebittimes.com/images/2024/06/01/4160f364d48727599e09d479cc13b5e6.webp" alt="" class="wp-image-180050" srcset="https://cdn.thebittimes.com/images/2024/06/01/4160f364d48727599e09d479cc13b5e6.webp 1024w, https://cdn.thebittimes.com/images/2024/06/01/4160f364d48727599e09d479cc13b5e6.webp 300w, https://cdn.thebittimes.com/images/2024/06/01/4160f364d48727599e09d479cc13b5e6.webp 768w, https://cdn.thebittimes.com/images/2024/06/01/4160f364d48727599e09d479cc13b5e6.webp 1536w, https://cdn.thebittimes.com/images/2024/06/01/4160f364d48727599e09d479cc13b5e6.webp 1646w" sizes="(max-width: 1024px) 100vw, 1024px">
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   “pepe in a memes world” (PEW) on Uniswap. Source: Finbold
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 <p class="paragraph">Therefore, any attempt to realize larger amounts of this <a rel="noopener noreferrer nofollow" title="trader" href="https://thebittimes.com/tag/trader.html">trader</a>’s holdings could directly impact PEW’s price, making profit realization difficult.</p>
 <h2 class="wp-block-heading" id="meme-coins-and-the-greater-fool-theory">Meme coins and the greater fool theory</h2>
 <p class="paragraph">The risks associated with trading these highly volatile and speculative cryptocurrencies cannot be overstated.</p>
 <p class="paragraph">Meme coins, such as PEW, often lack fundamental value, while hype and social media buzz drive their price action. Traders who buy these coins are essentially gambling in the hope that someone else will buy them at a higher price.</p>
 <p class="paragraph">This mentality aligns with the “Greater Fool Theory,” which suggests that profits can be made by buying overvalued assets and selling them to a “greater fool.”</p>
 <p class="paragraph">However, this theory also highlights the inherent risk of such investments, as the market eventually runs out of willing buyers. When the hype dies down and demand dwindles, <a rel="noopener noreferrer nofollow" title="trader" href="https://thebittimes.com/tag/trader.html">trader</a>s can remain holding worthless assets, leading to substantial financial losses.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-trader-turns-12-300-into-1-72-million-in-4-days-tbt90847.html">https://thebittimes.com/crypto-trader-turns-12-300-into-1-72-million-in-4-days-tbt90847.html</a></p>

Crypto trader turns $12,300 into $1.72 million in 4 days

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