Lookonchain, a Twitter account that provides insights into blockchain transactions, has recently shared the successful investment moves made by an investor known as SmartMoney. This savvy investor has made some profitable moves in the cryptocurrency market, earning them an estimated $3.84 million.
One of SmartMoney’s successful investments was buying 133 billion SHIB tokens in April 2021 for $224,000. These tokens were later transferred to Gate.io in May, and if sold at the transfer price, SmartMoney would have earned $1.13 million, resulting in a profit of approximately $903,000.
In July 2021, SmartMoney made another smart investment move by purchasing 49 billion SHIB tokens for $417,000 from Gate.io and later transferring them to Gate.io and KuCoin in October. If the tokens were sold at the transfer price, SmartMoney would have earned $3.36 million, resulting in a profit of approximately $2.94 million.
SmartMoney has also made a shrewd move by swapping some of their SHIB positions for 325 billion PEPE tokens at a cost of $700,000. This is an interesting move considering the current hype around meme coins and their potential for high returns.
In addition to their investments in SHIB and PEPE, SmartMoney has also invested in other meme coins such as BABYPEPE and PEPET.
Should you try this?
It’s important to note that investing in cryptocurrency can be risky, and it’s essential to do your own research and seek professional advice before making any investments.
The cryptocurrency market is highly volatile, and prices can fluctuate rapidly, leading to significant gains or losses. Despite this volatility, many investors are still drawn to cryptocurrencies because of their potential for high returns. However, it’s important to remember that investing in cryptocurrency should be done with caution, and investors should only invest what they can afford to lose.
In conclusion, SmartMoney has made some smart investments in the cryptocurrency market, earning an estimated $3.84 million. It’s essential to follow the best practices of investing, such as diversifying your portfolio and doing your own research, before making any investments in the cryptocurrency market.