An unknown crypto trader received over $1.2 million in unrealized profit in less than seven hours thanks to an investment in the memecoin PIPEDOG. Analysts from Lookonchain drew attention to this.
According to their data, the investor purchased 293.75 million PIPEDOG for 8.39 $ETH (approximately $16,000). Later, the trader sold 34.55 million tokens for 32.67 $ETH (around $62,000), securing a portion of the profit.
At the same time, 259.2 million PIPEDOG remain in the wallet, with a market value estimated by the analysts at the time of their statement at approximately $1.18 million. At the time of writing, it had fallen below $900,000.
The experts noted that the trader's total profit, including the already realized portion, exceeded $1.2 million, corresponding to approximately a 77x return.
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Community Reaction
The successful trade sparked lively discussion on X. Some users suggested the trader might have used a sniper bot to buy the token immediately after its launch.
Others pointed out that the main difficulty lies in finding promising tokens before their rapid price surge. Meanwhile, a user under the pseudonym That Martini Guy urged people not to focus solely on success stories.
"Everyone writes about the 77x return. But no one writes about the 100 tokens that went to zero before that," he noted.
Recall that previously, an unknown trader turned an initial investment in the CASHCAT token from about $838 into approximately $1.05 million in 20 days, achieving a 1253x return.
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