A new trend emerged in the cryptocurrency world mid-year, resulting in thousands of new tokens. Some of these projects yielded significant profits, while others turned out to be rug pulls. During this period, a cryptocurrency investor was seen purchasing not just one but multiple meme coins, leading to substantial profits due to timely transactions.
Investor’s Meme Coin Moves
According to information shared by Lookonchain on August 26, the mentioned cryptocurrency investor preferred to trade mainly in Toncoin (TON) and cryptocurrencies related to the Telegram ecosystem. Despite some losses, the investor achieved a high overall profit rate.
Among the transactions made by the investor during this period was the purchase of Resistance Dog (REDO) coin, which gained value after the TON blockchain logo was changed to REDO. The $50,500 investment increased 12 times in value, reaching a profit of 107,275 Solana (SOL) or $606,000, with some sales also recorded.
The same investor achieved a 35-fold profit from the TON network’s multi-service token Ton Inu (TINU), earning 5,207 TON or $29,400. Additionally, the investor gained 3,118 TON or $17,600, representing a 62-fold return, from Paper Plane (PLANE), which is claimed to stand against online censorship.
Total Profit of the Crypto Investor
Combining all these transactions, the investor invested 13,207 TON to purchase these 11 meme coins, with a total value of $74,487 at current prices. The investor later sold them for 128,593 TON or $725,264, achieving a profit of 115,387 TON or $650,782, which is an 874% gain.
While all this was happening, TON, which recently rose to $7, is currently trading at $5.63 after a 5% drop. According to information shared by Russian sources, Telegram founder Pavel Durov’s detention period will end on August 28.
Despite the significant profits, the investor also experienced losses, highlighting the difficulty of always making the right moves. Investors should remember that the high volatility of meme coins can lead to substantial losses.
