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Trader Turns 5 ETH into $3.3 Million with PORK Token Surge

Trader's Astounding Success with PepeFork (PORK) Crypto

Feb 02, 2024
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A well-timed investment in PepeFork's (PORK) recent surge transforms a 5 ETH investment into a whopping $3.3 million, raising questions about insider information in the crypto world.

A trader has managed to transform an initial investment of five Ethereum (ETH) into an impressive $3.3 million through strategic buying and selling of the PORK token. According to analysts at Lookonchain, this substantial gain was achieved by capitalizing on the recent surge of the PepeFork (PORK) cryptocurrency.

The trader initially invested 5 ETH, equivalent to $12,000, in PORK, acquiring 9.5 trillion tokens shortly after the crypto's trading debut. Following this strategic move, the trader successfully sold 6.3 trillion coins back into ETH, resulting in a net gain of 329 ETH tokens valued at $765,000.

Post-transaction, the trader retained 3.2 trillion PORK, estimated to be worth around $2.55 million. Some speculators from Lookonchain followers suggested the possibility of insider information influencing these successful trades.

PepeFork (PORK), described as a meme coin inspired by the PEPE meme token cryptocurrency project, has gained significant attention. Trading on platforms such as Uniswap and MEXC, PORK experienced an extraordinary surge of over 450% in less than two days, propelling it to the ninth position among meme coins with a market capitalization of $200 million shortly after its debut.

Dexscreener data indicates that PORK has a total supply of 420 trillion, with the top 10 holders controlling over 15% of the total supply. Notably, all these addresses were less than two days old when they received PORK tokens, holding $30 to $200 in ETH, potentially for gas fees and on-chain swaps.

While buying meme coins at the onset of their trading and selling for profits is a popular strategy in the crypto community, it comes with high risks and potentially high rewards. In a similar recent example, a trader capitalized on Elon Musk's Twitter profile change to "Chief Troll Officer," turning 4.313 ETH into $1.03 million with TROLL tokens after successfully selling and recovering the initial investment.

cool.svg cool_white.svg COOL!
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