Amid a highly market witnessed recently in light of the U.S. elections, a meme coin diamond-hand trader nabbed substantial market attention by making massive profits. On-chain data on Friday indicated that a trader made nearly $4 million worth of profit trading Department Of Government Efficiency (DOGE) meme token. Simultaneously, the same trader made significant profits on MAGA, sparking market discussions over potential investment strategies and future price movements.
Meme Coin Whale Nabs Profit With Meme Coin
According to data from Lookonchain dated November 8, the diamond-hand trader theunipcs.eth made remarkable profits trading Department Of Government Efficiency and MAGA. As per the data, this trader entered into trading the token when its market cap was $2.7 million. Notably, he spent 235 ETH, worth $584K, to buy 33.35M DOGE. This trading strategy aided the diamond hand in making an unrealized profit of $4.12 million.
Meanwhile, data indicated that the same trader also started bagging MAGA at a $3 million market cap. He spent 18.45 ETH, worth $57K, to buy 6.27 billion tokens. This trade mover aided theunipcs.eth in making an unrealized profit of $395K. However, it’s worth mentioning that at this coin’s peak, the trader’s holdings boasted an unrealized profit of $4.33 trillion. Overall, these trades have underscored the highly volatile nature of the meme-themed crypto sector. Other tokens held by the diamond hand, per Etherscan data, were FLOKI and QUBY, among others.
How Are The PolitiFi Tokens Performing?
DOGE price soared nearly 146% in the past 24 hours and is now trading at $0.1971. Its intraday low and high were $0.1863 and $0.2016, respectively. Further, the coin’s weekly chart showcases gains worth 22%, whereas the monthly chart indicates gains worth 78%.
However, MAGA price tanked nearly 9% over the past day and is now sitting at $0.00008149. The coin’s intraday low and peak were $0.00007036 and $0.00009524, respectively.
In another chronicle, Dogecoin witnessed a bull run, aligning with Donald Trump’s win and Elon Musk’s D.O.G.E role under the Republican’s cabinet. CoinGape Media reported that market watchers are even eyeing a $4 price target for the meme token ahead in light of Elon Musk’s D.O.G.E. crackdown on the U.S. Fed. Notably, even the Department Of Government Efficiency token rallies in tandem with this phenomenon. It’s noteworthy that market confusion persists as this coin’s short form resembles the ticker of one of the top meme coins, Dogecoin.
In addition, it’s notable that Binance added Dogecoin to the Smart Arbitrage offering, adding to the market buzz surrounding meme tokens.
Coingape Staff
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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