A smart trader today earned an impressive $1.59 million profit within two days trading new meme coins, Mubarak (MUBARAK) and Tutorial (TUT). These new tokens have been in the spotlight, benefiting from the meme coin craze. While this trader’s smart strategy paid off extensively, he still holds substantial positions in MUBARAK and TUT, according to today’s data from Lookonchain.
Making $1.59 million on meme coins
This smart trader purchased the assets at their earlier stages. He spent $40,000 to buy 8.7 million Mubarak tokens at average price $0.00459. Most likely, he bought the tokens two days ago after the asset’s launch.
The trader also spent $42,000 to buy 11.1 million TUT tokens at an average prices of $0.0037. Such purchases happened before massive surges of the tokens’ prices, laying a foundation for huge return on investment.
Today, as indicated by Lookonchain, the trader acted swiftly and sold part of his holdings when prices were high and earned remarkable gains. He cashed out profit by selling 2.7 million MUBARAK tokens for $248,000 and 1.9 million TUT tokens for $32,000 respectively. He currently holds 6 million MUBARAK tokens and 9.2 million TUT tokens to take advantage of further price growth.
TUT and MUBARAK price updates
Tutorial (TUT) is a meme coin that was launched on the BNB chain last month. Since its rollout, the asset has been one of the top performers in the cryptocurrency market. Its price has been up 2855.9% and 3264% over the past month and seven days ago respectively. Today, the asset’s price is trading at $0.03053, after seeing a 229.5% increase over the past 24 hours. Its trading volume also rose by 110.10%, implying a recent surge of buyers’ activity in the asset.
On the other hand, MUBARAK is also another new meme coin that was launched on the BNB chain last Saturday, March 15. Since its rollout, the meme coin has defied the current downtrend in the wider crypto market by registering a price growth of almost 300%. The asset’s price is currently trading at $0.191, after recording a 43.1% rise over the past 24 hours.
Buying activity in these meme coins has tremendously skyrocketed recently. Investors are accumulating huge positions in these assets, suggesting robust whale and retail interest. TUT and MUBARAK have been grabbing the attention of the crypto community, indicating that active traders and investors are increasingly targeting new and lesser-known tokens for financial growth.
