Mysterious Trader Makes $150,000 Profit in 3 Hours From Just $2,956: Blockchain Analysis
A journalist and copywriter with a decade's experience across music, video games, finance and tech.
One lucky trader turned $3,000 in newcomer meme coin Pochita ($POCHITA) into $150,000 in less than three hours, according to on-chain data.
Blockchain sleuth Kakashi (X handle: @KKashi_YT) highlighted the trade in a tweet yesterday evening UTC.
Over $150,000 profit in less than 3 hours. $Pochits pic.twitter.com/sAkngcW4CM
It’s certainly not the first time traders have made a killing in very little time after their initial investment.
Other newcomers like Moo Deng ($MOODENG), inspired by the eponymous viral baby hippo YouTube star in Thailand, and Neiro have been turning thousands into millions for recent holders after investors’ sentiment lightened in the wake of the Federal Reserve’s interest rates cut last month.
Little is known about Pochita. The token has had a quick and volatile rise, with some sources labeling it as a successor to its $1.5 billion market cap chain-mate Bonk ($BONK), the token that put Solana on the map as a new meme coin hub.
Pochita launched yesterday and quickly ballooned to a $20 million market cap within 9 hours, according to data by BitGet.
All this happened in the context of falling crypto prices.
Global crypto markets contracted 2.9% over the last 24 hours to post a collective market cap of $2.21 trillion.
The meme coin sector dipped 3.2% and is now worth $47.5 billion.
Meme coins like Pochita are extremely volatile, which means although they’re fun and often profitable, their lack of clear fundamentals means they’re often just exploited for price rises.
However, over in the up-and-coming world of token presales, investors are diversifying their portfolios with protocol tokens that are adding new
Read more on cryptonews.com
