JAKARTA - A crypto trader has made a big profit from trading DOGS tokens. Although the price of DOGS had fallen to 30%, the trader was able to generate more than 400% of the profits, which is equivalent to around 77.3 thousand US Dollars (Rp1.1 billion) from an initial investment of 18.4 thousand US Dollars (Rp285 million).
According to a report from Lookonchain, this trader took advantage of the momentum before the DOGS token was listed on the centralized exchange (CEX) by buying the token on a decentralized exchange (DEX). At the time of the initial purchase, the trader invested 3,271 TONS or about 18.4 thousand US Dollars (Rp285 million) to earn 55.9 million DOGS. In a short time, he sold 20 million DOGS for 6,150 TONS, or around 34.6 thousand (Rp536 million).
After that, the remaining DOGS tokens owned by these traders were stored on the centralized exchange, where the value increased significantly, resulting in a final profit of 400%. In the end, of the remaining 35.9 million DOGS, the profit value reached 77 thousand US Dollars (Rp1.1 billion).
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This success has caused a positive reaction among the crypto community, with many projecting further price growth due to market optimism and news about DOGS listing in several major exchanges. DOGS, which is Telegram's original meme coin, gains momentum because of its function in the Telegram ecosystem, particularly related to non-fungible tokens (NFT).
According to Coingape's information, DOGS received great attention after it was announced it would be listed on several key platforms on August 26, including OKX, Gate.io, and Bybit. In addition, DOGS is also listed as the 57th protocol at the Binance Launchpool, which further strengthens its position in the market.
At the time of writing, the price of DOGS has grown by 3% in recent hours, indicating interesting stability amid the volatility of the crypto market.
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