Memecoins have been in the news lately due to their popularity and the profits they have given to traders. In another story, a savvy memecoin trader made a profit of $873,000 from just $1795.
Lookonchian reported the details of his tradings. It portrays his calculated steps and careful approach. It offers some lessons to learn on how to maximize returns without succumbing to panic selling.
Memecoin Trader Turns $1,795 Into $873K
The journey began when the trader purchased 36.27 million $BAN tokens using 10.2 $SOL (valued at $1,795). When $BAN experienced its first significant surge, the trader decided to capitalize on the rally but avoided the typical “sell-everything-at-once” approach.
Instead, he sold 12 million $BAN for a substantial $56,900. Shortly after this initial profit, $BAN’s value plunged by nearly 90%. However, instead of selling off his remaining holdings in a rush, he chose to wait.
After some time, the results were outstanding. This is when $BAN witnessed another major price surge and the trader sold 6.13 million $BAN for $80,700. Now, he still has 18.13 million $BAN tokens in his portfolio. Right now. These tokens’ value stands at $734,000.
The Lesson from the Memecoin Trader
This story is a good example of a measured approach to crypto trading. One should know when to take profits without selling out in panic mode. Holding through the crypto’s ups and downs maximizes returns and minimizes losses.
This trading story states that in the fast-moving crypto world, patience is the key and one has to be aware of when to take timely action. Rather than riding the FOMO, the traders who often become successful are the ones who have done the research. It is important to take care of news and market influence on the asset.
Also read: Trader Scores $1.44M Profit On $Flavia Memecoin Amid 9999% Surge
Legendary Trader Offloads $TRUMP Memecoin Holdings As Price Dips 22%, Profits $4M
Trader Misses Out On $30M Profit After Selling HIPPO Tokens For Just $7.5K