One “lucky” trader is turning heads for making huge profits in just one month by trading new rival Dogecoin (DOGE) and Shiba Inu (SHIB).
According to the blockchain tracking service Lookonchain, the trader made approximately $2.5 million in profits, or a gain of 6,102%, by to buy and the sale of Grok (GROK), a token inspired by, but not related to, Grok AI, a chatbot service on Elon Musk’s social media platform X.
“This trader made ~$2.5 million (+6,102%) in one month with GROK. Let’s see how he did it.”
Look at chain say the trader made well-timed Grok purchases and later sold some of the assets on crypto exchange Gate.io as the memecoin’s value soared. At the time of writing, the trader still has almost 70 million Grok in his possession.
“This trader was very lucky. He/she caught Grok three minutes after opening trading and bought a large amount of Grok at a very low price. In less than 12 hours he/she had a profit of 140 times, then he/she bought more Grok.
When Grok was listed on (crypto exchange) Gate.io, he started depositing Grok on Gate.io to sell for a profit.
This trader spent 21.24 ETH ($42,000) to buy 154.7 million Grok. Then sold 11.88 million Grok for 18.44 ETH ($37,000) on DEX and deposited 72.96 million Grok ($1.38 million) on Gate.io.
Currently, he/she still owns 69.87 million GROK ($1.16 million), with a total profit of ~$2.5 million.”
Grok is trading at $0.0165 at the time of writing, up slightly in the last 24 hours.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on Tweet, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: DALLE3