With the continuous growth and evolution of the cryptocurrency industry, it has proven to be a profitable environment to be a part of, as one crypto trader recently witnessed, turning a mere $800 investment into a mind-blowing $657,000 in just a few hours with Mother Iggy.
Specifically, this particular investor sold 5.14 Solana (SOL) tokens worth $861, with which they purchased 86.55 million of Mother Iggy (MOTHER) or 8.66% of its total supply, then sold 80.41 million MOTHER for 3,035.5 SOL ($509,000), according to the observations by Lookonchain in an X post on May 29.
In just 5 hours, this trader turned $861 into $657K, a gain of $762x!
He spent 5.14 $SOL($861) to buy 86.55M $MOTHER(8.66% of the total supply) and sold 80.41M $MOTHER for 3,035.5 $SOL($509K).
He currently has 6.14M $MOTHER left, worth $148K.
He should not be an insider.… pic.twitter.com/8mLAD8aGm8
— Lookonchain (@lookonchain) May 29, 2024
Furthermore, the blockchain analyst pointed out that the said crypto trader now had 6.14 million MOTHER left, worth $148,000, and that they “had traded nearly 700 coins before buying MOTHER and was losing, with a win rate of less than 25%,” adding that they “should not be an insider.”
MOTHER Price Analysis
Meanwhile, the meme coin Mother Iggy, a less-known and very recent addition to the crypto industry on the Solana chain, was at press time changing hands at the price of $0.01959, recording accumulating a 0.20% gain since its launch, as per the latest chart data retrieved by Finbold from CoinMarketCap on May 29.
Notably, the token’s website listed on CoinMarketCap leads to an X profile IGGY AZALEA, which has existed since June 2010, has around 7.6 million followers, and alludes to the popular Australian rapper and model, as the said X profile contains a number of memes referring to her.
All things considered, careful and planned timing of investments, in addition to carrying out detailed research and keeping up with any relevant developments related to the assets in question, can bring significant profit in the crypto sector, as the above crypto trader proved.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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