A trader managed to turn five Ethereum (ETH) into $3.3 million buying and selling PORK token.
In the latest display of trading acumen, a savvy market participant has executed a stunning financial maneuver transforming a mere five Ethereum — valued at approximately $12,000 — into a staggering $3.3 million fortune within the span of only three days.
Analysts at Lookonchain closely followed this trader’s strategic play, noting that the windfall was achieved through a timely investment in the newly launched PepeFork (PORK) cryptocurrency.
Details emerging from Lookonchain reveal that the trader’s foray into PepeFork’s market began a mere seven minutes following the coin’s debut on Feb. 1. Capitalizing on the nascent trading opportunity, the investor converted the ETH holdings into 9.5 trillion PORK tokens.
The trader then sold 6.3 trillion coins back into ETH, netting them 329 ETH tokens valued at $765,000. After the transaction, the trader was left with 3.2 trillion PORK worth approximately $2.55 million.
Several Lookonchain followers have speculated that an insider is behind the successful trades. As of the time of writing, Pork is available on Uniswap and MEXC.
Buying memcoins at the start of trading and then taking profits is a popular tactic used by many participants in the crypto community, albeit with high risks and high rewards. Earlier this year, an unknown trader earned $1.1 million in JUP coins using thousands of Solana wallet addresses.