A Floki trader and early investor just pulled in a realized profit of $1.12 million from his Floki trade despite the entire crypto market being in red at the moment.
The $Floki trader went for the kill depositing 6.28 billion $FLOKI (approximately $1.1 million) to Binance 18 hours ago at a time when the entire crypto market is enveloped in a bearish trend.
The very successful trade was picked up by On Chain analysis firm Arkham Intelligence and was posted on X by On Chain tracker the Data Nerd.
“18 hours ago, an early investor of $FLOKI just deposited 6.28B $FLOKI (~$1.1M) to #Binance
2 years ago, he received 7.5B from @RealFlokiInu (~$275k) & the realized profit of this investment is $1.12M”. The Data Nerd tweeted
The investor in question held his initial 7.5 billion $Floki asset for 2 years despite the market’s ups and downs and then deposited 6.28 billion of it 18 hours ago when its value blossomed to yield a handsome profit of $1.12 million.
The massive profit made by the trader was possible because Floki over the years has performed very well and is currently in green despite the general market slump.
According to Coingecko data, Floki has recorded a 0.6% growth in price in the last 24 hours despite other crypto assets struggling and Bitcoin the Flagship crypto asset dropping to $58,000.
Floki’s impressive performance is also backed by the successful launch of the Floki trading bot on the main net.
Floki has been recently outperforming other memecoins like $PEPE, $WIF, and $BONK. This stellar performance by the memecoin has led its watchers in the industry to believe that it could be the next Dogecoin due to its strong fundamentals.
One stand-out trait of the Floki crypto asset is its aggressive development approach. This trait is also shared by $Token and it is no surprise that both crypto assets are driven by Floki’s decentralized autonomous organization (DAO). The Floki DAO has several powerful catalysts set to launch soon giving more boost to crypto assets associated with it.
Floki is currently trading at $0.00015214 with a market capitalization of $1.4 billion.
What to Know
- Despite the massive profit made by this trader, Memecoin trading is extremely risky, and double-digit losses are very rampant in this category of crypto assets. Besides it’s a volume game and to profit big you need to invest large sums of money.
- Nairametrics earlier reported on a Shiba inu trader who turned an initial investment of $2,700 to $1.24 million in three years.