$401 to $1.6 Million? Here’s the Wild Story of a Trader Who Hit Big with Moo Deng
Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
Three weeks ago, an anonymous trader took a chance on 11.9 million Moo Deng (MOODENG) tokens, a meme coin still under the radar, with a $401 investment in 4 SOL.
What started as a small risk has grown into one of their most rewarding trades
According to on-chain investigator Kakashi, the trader initially spent 4 SOL, equivalent to $401, to acquire Moo Deng tokens.
The wallet
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They have already sold 3.3 million of those tokens, securing a profit of $59,600.
The remaining 8.47 million tokens in their portfolio now have an unrealized gain of around $1.6 million, although it was as high as $1.9 million at the time of Kakashi’s post.
For verification, readers can use the Solana blockchain explorer, Solscan.io, where the trader’s portfolio shows a current value of $1.73 million.
This includes $95,600 from another obscure Solana meme coin called Brainlet (BRAINLET).
The exact transaction where the trader bought the Moo Deng tokens can also be viewed on Solscan here.
As the trader’s success grows, many are wondering: How high can Moo Deng go?
According to DEXScreener, Moo Deng recently had a market cap of around $180 million, having reached as high as $336 million a few days ago.
The recent dip may present an entry point for some traders, as Moo Deng’s social media presence has been growing steadily.
The token’s official Twitter page has 59,000 followers, while its Telegram group has close to 5,000 subscribers.
#moodeng pic.twitter.com/FFy5j4IB7f
Moo Deng’s strong
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