blockchainreporter.net
A trader known as “stupidmoney.sol” recently made headlines in cryptocurrency for their daring and highly profitable trade involving the $GOAT token. Over just five days, the trader turned a modest 5 SOL (approximately $727) into a staggering 15,883 SOL, worth roughly $2.44 million at the time of the sale. However, despite the enormous return, there is speculation that the trader could have made significantly more had they held onto their position.
Will stupidmoney.sol regret selling $GOAT too early?
— Lookonchain (@lookonchain) October 23, 2024
He sold all 15.15M $GOAT 8 days ago, turning 5 $SOL($727) into 15,883 $SOL($2.44M), a huge gain!
But if he had held on until now, his profit would be more than $10M!https://t.co/bVF7he12N0 pic.twitter.com/2lh0yt0b6j
The transaction records show that “stupidmoney.sol” sold off 15.15 million $GOAT tokens in a series of swaps, netting them their impressive profit. This five-day trade represents a massive 3,176x return on their initial investment, an achievement few in the crypto world can replicate. By swapping 5 SOL for $GOAT early on, the trader effectively capitalized on a sharp price increase as the token surged.
The rapid rise of $GOAT on Solana’s Raydium platform, as displayed in the price chart, highlights how quickly fortunes can change in the volatile world of cryptocurrency. From early October, $GOAT began an upward trend, gaining momentum as it rallied to a high of $0.8024. With the price climbing steadily, the trader decided to sell at approximately $0.69, locking in their profit.
Missed Opportunity for $10 Million?
Despite securing a life-changing gain, the timing of “stupidmoney.sol’s” exit has raised questions. Lookonchain noted that if the trader had held their position until the present price of $GOAT, their profit would have been over $10 million, dwarfing the $2.44 million they received. The token has continued to appreciate following their exit, leaving some to wonder if the trader may regret the decision to sell too early.
Interestingly, the trader’s wallet handle, “stupidmoney.sol,” adds a layer of irony to the situation. While their trade was far from “stupid” by most standards, the subsequent price action suggests that the name may have acknowledged their missed potential gains.
While many would envy the success of “stupidmoney.sol,” the situation serves as a reminder of the delicate balance between taking profits and holding out for more in cryptocurrency trading. The $GOAT token’s price trajectory continues to attract attention, and it remains to be seen if other traders can replicate or exceed the gains achieved in this astonishing trade.