bullish

Millions

<p>In crypto, tracking the trades of “smart money” can provide valuable insights into market trends.</p> 
<p>One particular trader <a href="https://x.com/lookonchain/status/1846826143137386712" rel="nofollow" target="_blank">has caught attention recently</a>, amassing significant profits across several tokens like $PEPE, $SPX, $MOG, and $WOJAK.</p> 
<p>This article digs into the trader’s moves to see where they may be heading next.</p> 
<h2 id="recent-profits-a-breakdown">Recent Profits: A Breakdown</h2> 
<p><img decoding="async" class="alignnone" src="https://pbs.twimg.com/media/GaE92Pkb0AEvfwz?format=jpg&amp;name=small" alt="Image" title="Smart Money Made Millions From Trading Memecoins—Here's What He's Buying Next! 19"></p> 
<h3 id="pepe">$PEPE:</h3> 
<p>The smart money has been bullish on $PEPE since December 2023, currently holding an astounding 318 billion tokens spread across two wallets. Having accumulated $PEPE at a relatively low cost, the trader now has an unrealized profit of <strong>$2.19 million</strong>. With such a substantial stake, it will be interesting to watch their next steps with this meme coin.</p> 
<h3 id="spx">$SPX:</h3> 
<p>The trader has also made a noteworthy move with $SPX. They initially invested <strong>$57,000</strong> to buy 10.1 million $SPX tokens between December 2023 and May 2024. After the price surged, they sold 9.1 million tokens for <strong>$1.12 million</strong>, netting a profit of <strong>$1.7 million</strong>, leaving them with a remaining stake of 1 million $SPX worth <strong>$636,000</strong>.</p> 
<p><img decoding="async" src="https://pbs.twimg.com/media/GaE9_igb0AQjlm3?format=jpg&amp;name=small" alt="Image" title="Smart Money Made Millions From Trading Memecoins—Here's What He's Buying Next! 20"></p> 
<h3 id="mog">$MOG:</h3> 
<p>In January 2024, the smart money made a bold entry into $MOG. They spent <strong>$194,000</strong> to acquire 802.4 billion $MOG tokens and later sold 154 billion tokens for <strong>$278,000</strong>. Despite this sale, they continue to hold 648.4 billion tokens, worth <strong>$1.29 million</strong>, with an overall profit of <strong>$1.37 million</strong>.</p> 
<p><img decoding="async" src="https://pbs.twimg.com/media/GaE-KdWbgAA9WVa?format=jpg&amp;name=small" alt="Image" title="Smart Money Made Millions From Trading Memecoins—Here's What He's Buying Next! 21"></p> 
<h3 id="strong-wojak-strong"><strong>$WOJAK</strong>:</h3> 
<p>Accumulating 352.69 million $WOJAK since December 2023, the trader’s cost basis is <strong>$248,000</strong>, with the current value sitting at <strong>$455,000</strong>. This represents an unrealized profit of <strong>$207,000</strong>.</p> 
<p><img decoding="async" src="https://pbs.twimg.com/media/GaE-P4hasAA5UNU?format=jpg&amp;name=small" alt="Image" title="Smart Money Made Millions From Trading Memecoins—Here's What He's Buying Next! 22"></p> 
<h3 id="what-s-next">What’s Next?</h3> 
<p>Recent activity indicates that the trader has been selling off portions of his $SPX holdings as the price rises, redirecting capital into $PEPE and $WOJAK.</p> 
<p>This shift may indicate a belief in further upside potential for these tokens.</p> 
<p>As the trader continues to hold significant positions in $PEPE and $WOJAK, it will be interesting to see if these tokens remain key components of his strategy moving forward.</p>

Smart Money Made Millions From Trading Memecoins—Here’s What He’s Buying Next!

Table of Contents

crypto.ro global

Other articles published on Oct 17, 2024

Bitcoin and Ethereum ETFs See Significant Growth in Market Interest

Hong Kong cops clean out alleged $46M deepfake crypto scam

Helium (HNT) Price Technicals Indicate A Bullish Reversal To $8?

Cardano (ADA) Eyes Breakout Amid Mixed Market Sentiment

MicroStrategy Soars 1,620%: How Bitcoin Transformed Corporate Finance

Venmo partners with MoonPay to bring crypto to 60m US users

Join our free newsletter for daily crypto updates!