A trader recently pulled off an impressive feat by making $2.7 million in just three days through trading a memecoin known as $MAGA. This remarkable profit from the altcoin resulted in a staggering return on investment (ROI) of 505%, as reported by Lookonchain data.
In a span of 72 hours, this trader managed to earn $2.7 million by engaging in trades involving $MAGA, yielding a remarkable ROI of 505%! The trader initially invested $537,500 to acquire 6 billion $MAGA tokens on May 24 and May 25. Subsequently, the trader decided to cash in on some of the gains by selling 1.5 billion $MAGA tokens for $744,000 in $USDT just moments ago.
Despite selling a portion of the tokens, the trader still retains a significant amount of 4.5 billion $MAGA tokens, valued at $2.51 million based on the current market prices.
The recent trade involving $MAGA tokens sheds light on the volatility and potential rewards present in the crypto market, luring in more investors into this high-risk, high-reward realm of trading. While the ability to generate substantial profits within a short period is enticing, it also underscores the inherent risks and unpredictability associated with trading digital assets. Traders must stay alert to market fluctuations and be prepared to act swiftly in response.
In conclusion, the trader’s strategic purchase and subsequent sale of $MAGA tokens led to a substantial return on investment. According to Lookonchain, the trader’s initial investment of half a million dollars resulted in trades that ultimately earned them over $2.5 million within a few days. With 4.5 billion $MAGA tokens still in their possession post-sale, it appears there is further potential for growth in the trader’s holdings, showcasing the significant gains made from this particular trade.