The cryptocurrency market is full of stories about average investors making huge profits in short periods of time. From tokens like Shiba Inu to Dogecoin and Pepe, returns have been phenomenal for those who got in at the right time. One such investor made hay while the sun shone this week, taking home five-figure profits from a triple-figure investment.
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A cryptocurrency investor turned $650 into $67,300 in just seven hours, showing impressive trading skills. There’s nothing better than seeing your investment grow by over 10,000% in a matter of hours.
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Cryptocurrency Market: $650 Investment Becomes $67,300 in 7 Hours
The initial investment
An anonymous cryptocurrency investor began trading meme coins on the Tron (TRX) network on Thursday morning. He spent $650 on an obscure meme coin, Sundog, and collected 6.87 million tokens. The purchase was made on the TRX network before its launch, giving the investor the opportunity to collect it at lower prices.
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The huge profit
Sundog scaled up massively on the charts, turning its investment from $650 to $67,300 in just seven hours. The cryptocurrency trader immediately dumped nearly 70% of the tokens and booked profits, marking an increase of around 10,250%.
On-chain Cryptocurrency Metrics and Data
Leading on-chain metrics and data company Lookonchain was the first to announce the stars transaction. Latest data shows that the investor still holds 2.29 million Sundog tokens with an unrealized profit of $76,000. Sundog fell by more than 13% on Friday and is still in the red.
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The development indicates that taking an entry and exit position can do wonders in the cryptocurrency market. It’s all about timing, but to master it, you’ll need a lot of luck or early bets on obscure tokens.