An experienced trader earned $140,000 in less than 20 minutes by tracking new listings on the cryptocurrency exchange Binance. This was highlighted by experts at Lookonchain.
A savvy trader has made $140K in less than 20 minutes by monitoring #Binance‘s new cryptocurrency listings!
In the same second that #Binance announced the listing of the $MOODENG perpetual contract, he spent 1,300 $SOL to buy 2.77M $MOODENG and quickly sold for 2,109 $SOL,… pic.twitter.com/9hvN44IWLa
— Lookonchain (@lookonchain) October 25, 2024
At the moment of the announcement of the perpetual contract listing for the meme token MOODENG on Binance, a user purchased 2.77 million of these coins for 1,300 SOL. Twenty minutes later, he sold them for 2,109 SOL, earning 809 SOL ($140,000).
On October 24, using the same strategy, he gained a profit of 99 SOL ($17,000) trading the meme token GOAT.
The MOODENG coin was launched in early September via the Pump.fun platform on the Solana network. The asset is named after a popular baby hippo from Thailand.
Back in late September, a trader turned $815 into $9.4 million on MOODENG. However, the low liquidity of the coin prevented him from realizing the full potential profit.