The cryptocurrency market is filled with stories of average investors making stellar profits in a short period. From tokens like Shiba Inu to Dogecoin and Pepe, returns have been phenomenal for those who took an entry position at the right time. One such investor made hay when the sun was shining this week, taking home five-digit profits with a three-digit 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 over 10,000% in a few hours.
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Cryptocurrency Market: $650 Investment Becomes $67,300 In 7 Hours
Source – TradeStation
The Initial Investment
An anonymous cryptocurrency investor began trading meme coins on the Tron (TRX) network early Thursday. He spent $650 on an obscure meme coin, Sundog, and accumulated 6.87 million tokens. The purchase was made on the TRX network at pre-launch, giving the investor the opportunity to accumulate it at cheaper prices.
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The Massive Profit
Sundog scaled up massively in the charts, turning the $650 investment into $67,300 in just seven hours. The cryptocurrency trader immediately dumped nearly 70% of the tokens and booked profits, which showed an increase of approximately 10,250%.
On-chain Cryptocurrency Metrics and Data
Leading on-chain metrics and data firm Lookonchain was the first to announce the stellar transaction. The latest data shows that the investor still holds 2.29 million Sundog tokens with an unrealized profit of $76,000. Sundog dipped by more than 13% on Friday and remains trading in the red.
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The development indicates that taking an entry and exit position can make wonders in the cryptocurrency market. It’s all about the timing, but to master it, one needs massive luck or gamble early into obscure tokens.