The price of $Pnut recently surged by over 1,300% after Binance announced its listing, and one savvy trader made substantial gains.
This trader, who had already invested $721,000 to acquire 1.92 million $Pnut at $0.38 right after the Binance announcement, has held onto the position, now boasting an unrealized profit of more than $2.2 million. Today, he stands as the largest individual holder of $Pnut, amassing over $56 million in profits.
The price of $Pnut rose by more than 1300% after #Binance announced its listing!
A trader spent $721K to add 1.92M $Pnut at $0.38 after #Binance announced the listing.
The trader has held it since, and the unrealized profit has exceeded $2.2M!https://t.co/nwx9Ndvzt2 pic.twitter.com/jiQTlT5gjy
— Lookonchain (@lookonchain) November 13, 2024
The trader’s journey began on October 16, with an initial focus on $GOAT, a memecoin. While his performance in $GOAT wasn’t stellar, as he often sold at lows, he still holds 2.92 million $GOAT valued at $2.78 million, reaping a profit of $574,600.
Trader Records Some Loss In $FLAVIA Trade
However, not every investment went his way. Driven by FOMO, he invested $1.86 million in $flavia, only to sell it at a loss, recouping just $303,000 and taking a $1.55 million hit. In another instance, when Elon Musk mentioned $Pnut in a tweet on November 2, the trader invested $15,500 but sold quickly, pocketing a modest profit of around $1,500—likely avoiding a repeat of the $flavia experience.
The trader’s approach to $Pnut seemed calculated. Between November 3 and November 10, he invested about $2.8 million to amass a substantial amount of $Pnut, and after Binance’s November 11 listing, he began selling to realize profits. Today, he holds 26.72 million $Pnut, with a total profit exceeding $56 million.
The largest individual holder of $Pnut has made over $56M from $Pnut!
How did he do it?
1/ Let’s take a closer look at his trades.👇 pic.twitter.com/tE62eizwfE
— Lookonchain (@lookonchain) November 14, 2024
Recently, he also invested $671,000 in $FRED, securing an unrealized profit of $1.24 million. Despite trading 39 tokens and profiting on only 9—giving him a win rate of just 23%—this trader’s experience with losses has ultimately paved the way to substantial success with $Pnut and $FRED.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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