A crypto trader made a huge profit by trading DOGS tokens on Aug 26 after a series of trades on centralized and decentralized digital asset exchanges. The token has dominated industry trends after the market anticipated major listings on centralized exchanges. This propelled the asset to gains in the last couple of hours daily numbers are in the red zone.
Crypto Trader Makes Huge Profit on DOGS
A DOGS trader made good profits on his assets amid the buzz generated in the last few hours. According to Lookonchain, the trader made over 400% profits on the asset totaling $77.3k from an initial $18.4k investment. The trader made this huge profit from transactions between DEXs and CEXs respectively as the asset began trading on DEXs hours before it was listed on CEXs.
Initially, the user purchased 55.9M DOGS with 3271 TON worth approximately $18.4k. Subsequently, the crypto trader sold 20 million tokens for 6150 TON at about $34.6k. Finally, the holder deposited the balance on centralized exchanges and made $420% in profits. About 35.9 million DOGS worth $61k while raking in $77k.
Reactions across crypto spaces were positive with enthusiasts projecting a price growth on the heels of market optimism and the listing buzz. The first transaction took place when the price of the asset was at $0..00013. At press time, DOGS price stands at 0.001216 making a 3% growth in the last couple of hours.
A smart trader has made over 400% profit by trading $DOGS!
How did he do it? $DOGS was already available for trading on #DEX a few hours before listed on #CEX, with the price as low as $0.00013.
The smart trader spent 3,271 $TON($18.4K) to buy 55.9M $DOGS, sold 20M $DOGS… pic.twitter.com/zqSxyEf0Xk
— Lookonchain (@lookonchain) August 26, 2024
What’s Behind the Buzz?
The crypto trader as well as other users have been attracted to the buzz behind the token in recent times. DOGS is a native Telegram meme coin with utility in the network’s ecosystem around non-fungible tokens (NFTs) and more. Most of the momentum came from announced centralized exchange listings on Aug 26. DOGS is listed on major platforms including OKX, Gate.io, and Bybit. A significant factor was the project being listed by Binance as the 57th protocol in the launchpool.
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