Big crypto profit: Investor turns $1,300 into $3.4 million within 15 days

A crypto investor turned an initial investment of $1,300 into $3.4 million in just 15 days by investing in the Moo Deng (MOODENG) token.

While these amazing results are attracting a lot of attention, there are concerns about insider involvement and the limited liquidity of the token.

Big profit with Moo Deng token

On September 25, it was announced that an investor on the Solana blockchain had turned his $1,300 investment into millions of dollars. Data from the Solana Blockchain Explorer, Solscan, shows that on September 10, the investor bought 38.7 million MOODENG tokens for 9.8 Solana, worth $1,331 at the time. Within two weeks, the value of the memecoinincreasing the investment to $3.4 million.

Luke or insider trading?

Despite the success of this investment, doubts were raised within the crypto community. The MOODENG pool has a liquidity of only $1.8 million, meaning that the investor cannot withdraw the entire amount at the current market price. This encourages speculation about insider trading or developer involvement.

On the other hand, there are also investors who welcome this great profit and hope that the same kind of money will be invested in their own investments.

Other notable benefits

On September 26, Lookonchain reported that another trader turned a mere $95 investment in INCEPT tokens into $96,900 in less than 12 hours. These kinds of quick profits raise questions, especially since many of the wallet addresses involved appear to be linked to insiders.

Hodl’s strategy is still profitable

While some investors play on altcoins in the hope of quick, unprofitable profits, others choose the traditional hodl strategy. An example of this is an investor who is in 2022 it made $131.72 million in profit by buying Ether (ETH) during the bear market and holding it for two years of uncertainty.

In September 2022, this investor bought 96,639 ETH from the Coinbase exchange, when Ether was trading around $1,567. This strategy, which focuses on patience, still proves to be just as profitable as the riskiest investments in memecoins.