Unprecedented Gains in Memecoin Sphere
An unidentified crypto enthusiast has reportedly secured a staggering $166,000 profit from a savvy investment in DEFROGS cryptocurrency within a mere 48 hours.
Investment Breakdown
According to the blockchain investigative team at Lookonchain, the investor initially converted 0.26 Ethereum (ETH) into 100 DeFrogs tokens. Despite a hefty gas fee of 0.178 ETH—translating to roughly $423—the trader managed a lucrative sell-off of 60 DEFROGS for an impressive 27.8 ETH, equating to around $67,000.
Remaining Assets and Speculations
With 40 DEFROG tokens still in their possession, the trader’s total earnings have reached $166,000. This windfall has ignited conversations about potential insider trading, with suspicions raised on various platforms that project developers might be cashing in on early value surges of new tokens.
Staggering Market Performance
CoinMarketCap’s data reveals a jaw-dropping 85% surge in DEFROGS’s value over the last day alone, with its price peaking at $2,930 at the time of reporting. DEFROGS, a memecoin derivative of the PEPE crypto initiative, was only introduced to the market on February 7th, boasting an innovative ERC-404 standard that merges cryptocurrency traits with NFT elements. The initial batch comprised 10,000 tokens.
Comparative Trading Successes
In a similar vein, another anonymous trader made headlines after purchasing PORK tokens valued at 5 ETH ($11,715) just seven minutes post-launch, culminating in a $3.3 million profit over three days. From the 9.5 trillion PORK tokens acquired, the trader offloaded 6.3 trillion for 329 ETH (about $765,000). The remaining PORK tokens, worth an estimated $2.55 million, represent unrealized gains still held by the trader.
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