A recent series of cryptocurrency trades by an anonymous trader has showcased a remarkable example of profitable trading strategy.
According to Lookonchain, a notable on-chain analytics account, this trader executed a series of well-timed purchases and sales involving the cryptocurrencies $BONK and $CROWN, leading to significant gains.
The trader's journey began on November 15, when they started transferring $SOL from Binance to purchase $BONK. On November 15 and 18, a total of 6,190 $SOL, equivalent to approximately $434,000, was spent to acquire 125.8 billion $BONK. Since these purchases, the price of $BONK has soared by over 600%.
Continuing the strategy, on November 23, the trader invested an additional 1,316 $SOL (around $92,000) to buy 128,995 $CROWN. This move also proved to be astute as the price of $CROWN climbed by more than 100% following the purchase.
On December 9, the trader swapped all 128,995 $CROWN for 6.69 billion $BONK and purchased another 1.23 billion $BONK for 234 $SOL. This series of transactions underscored the trader's confidence in $BONK.
After $BONK's price peaked and then plummeted on December 10, the trader sold all 133.73 billion $BONK at a profit, obtaining 18,855 $SOL, valued at approximately $1.32 million. The overall cost for these transactions was around 7,741 $SOL ($543,000), resulting in a profit of approximately 11,114 $SOL ($780,000).
Despite selling, the trader recently bought back $68,000 worth of BONK, suggesting continued belief in the meme coin's potential.
