A trader turned a $97.7K investment into $205.7K within a day by selling Doginme after it was added to Coinbase's roadmap.
Successful Doginme Trade
The trader purchased 254.66 million Doginme tokens for 51.2 ETH ($97.7K) prior to the Coinbase listing announcement. Following the announcement, the token's price surged over 150%, resulting in an unrealized profit of $108K.
Coinbase Listing Impact
The addition of Doginme to Coinbase's roadmap significantly increased trader interest. Historically, Coinbase listings lead to price spikes due to increased exposure and accessibility for retail investors.
Risks and Rewards of Trading Meme Coins
Meme coins like Doginme are known for high volatility. These assets attract speculative investors but also carry significant risks due to rapid price changes and potential corrections after initial hype.
While the successful trade netted a substantial profit, trading meme coins requires caution and understanding of the potential risks due to their volatility.
