Swing Trader Profits Over $1 Million With Popcat
The post Swing Trader Profits Over $1 Million With Popcat appeared first on Coinpedia Fintech News
Data shows that an anonymous trader had a 100% hit rate and profited over $1 million on Popcat trades since August.
According to Solscan data, the whale now holds over $1.5 million worth of crypto assets across two wallets.
Trader Makes 8 Flawless Trades In 6 Weeks
X analytics account Lookonchain spotlighted the trader on Tuesday, hailing his flawless precision in entering Popcat trades.
The first trade was the most profitable, booking a $311,934 profit in just four days.
However, what’s more impressive is that he sold the local top and was able to rebuy at an even better price just two weeks later.
He opened his first position on 20 August at $0.52, sold on 24 August at $0.72, and reentered on 7 September at $0.51.
He then closed his second trade at $0.5996, booking another $89K profit.
However, as the Lookonchain analysis shows, his proceeding trades were unable to secure better entries after each sale.
For instance, he sold on 14 September at $0.72 but then bought back four days later at $0.78.
In these cases, the trader may have profited more by not selling.
Conversely, as seen in earlier trades, exiting positions early can also protect against losses, so the trader potentially cuts at the sign of weakness as a risk-mitigation strategy.
And glancing at his wallets on Solscan, we can see that he has things under control.
Lookonchain provided two known wallet addresses. One (Bdx3Uy9w) holds a whopping $1.28 million worth of USDC, while the other address (UidkB5ae) boasts over $350K worth of SPX6900, a parody of the S&P 500.
Interestingly, the trader has exited his Popcat positions, potentially at just the right time.
Popcat recently created a new all-time high and has been a top gainer among meme coins in recent weeks.
However, it has begun to cool off in recent days, while SPX6900 is gaining serious traction.
It has soared over 6,000% this month and even pumped 13% today, while most meme coins – including Popcat – are in the red.
The trader’s shift from Popcat to SPX6900 illustrates the importance of staying updated with market dynamics and rotating to the next trend before it becomes a consensus.
With that, traders seeking the next high-growth meme coin should look outside of Popcat and SPX6900.
One project gathering a lot of attention is Crypto All-Stars. It’s backed by analysts for up to 100x gains and is also receiving support from investors. The project is undergoing a presale, raising funds to build the world’s first meme coin-staking app.
Will Crypto All-Stars Explode Like Popcat?
Crypto All-Stars is a new project that offers staking utility to meme coins. Users can stake all the top joke tokens on the app and earn passive $STARS rewards.
Picture this: the bull market is booming, DOGE, SHIB, and PEPE prices are going parabolic – and you’re generating passive income on them.
It’s a setup that millions of meme coin holders will be interested in, and it’s precisely what Crypto All-Stars’ staking app, MemeVault, will offer.
The project is currently undergoing a presale and has raised $2.1 million so far.
Presale participants can stake their $STARS tokens for further rewards. Currently, $STARS staking offers a 703% APY, but this will decrease over time.
The $STARS token also holds utility for the MemeVault – users must hold it to access the app – and their rewards will be proportional to how much they have.
All of this means that $STARS will likely be a desirable token among all the top meme coin communities.
Expert analyst Umar Khan covered the project on the 99Bitcoins YouTube channel and said it could 100x in price.
The channel boasts 700K subscribers, providing huge exposure to the new token.
In the past few weeks, Popcat and SPX6900 have provided massive returns.
But looking ahead, the world’s first meme coin-staking app could be the next big runner.
