An analysis by Lookonchain revealed that a savvy investor successfully generated over $5 million through strategic trading of various memecoins.

Success in the Memecoin Market

According to Lookonchain, this smart investor made significant profits: $2.19 million on PEPE, $1.7 million on SPX, $1.37 million on MOG, and $207,000 on WOJAK.

SPX Trading Advantages

The investor initially acquired 10.1 million SPX for $57,000 between December 2023 and May 2024. Having sold 9.1 million SPX for approximately $1.12 million, while retaining 1 million SPX valued at around $636,000, resulted in a profit of $1.7 million.

Further Investments and Profits

The investor has been steadily accumulating 318 billion PEPE, now valued at $3.24 million. In January 2024, they acquired 802.4 billion MOG, resulting in a profit of $1.37 million. Investments in WOJAK totaled $248,000, with current valuations at $455,000 and a profit of $207,000.

Lookonchain highlights how this smart investor leveraged market movements and strategic buying to achieve remarkable gains in the memecoin arena.