blockchainreporter.net
Recently, one of the crypto investors, theunipcs.eth entered the spotlight of the digital finance world after earning millions from timely investments in $DOGE and $MAGA tokens. This investor has managed to create an unrealized profit of more than $5 million out of the initial investment of $641,000, proving the crypto market’s profit potential.
theunipcs.eth(@theunipcs), a diamond-handed believer!
— Lookonchain (@lookonchain) November 8, 2024
He aped into $DOGE at $2.7M mc, spending 235 $ETH($584K) to buy 33.35M $DOGE($4.7M), with an unrealized profit of $4.12M!
He aped into $MAGA at $3M mc, spending 18.45 $ETH($57K) to buy 6.27B $MAGA($452K), with an unrealized… pic.twitter.com/QNeTC3ydT0
Investing in DOGE and MAGA
The first successful attempt was made during the investment in the $DOGE token by theunipcs.eth. Using blockchain analysis, this investor bought $DOGE by spending 235 ETH ($584,000) to purchase 33.35 million $DOGE, which has a market value of approximately $2.7 million. Because of the strategic acquisition, the investor got an unrealized profit of $4.12 million, far exceeding the initial invested amount.
Soon after, theunipcs.eth made another strategic decision and bought the $MAGA tokens with the $3 million market cap. Using 18.45 ETH (around 57000$), the investor bought 6.27 billion $MAGA tokens with an unrealized profit of 395K$. At this point, the $MAGA token value amounted to $4.4 million, which gives theunipcs.eth roughly an unrealized profit of $4.33 million.
The Downside of Holding MAGA
Although $DOGE is still profitable, maintaining $MAGA has been expensive. Because of the fluctuation in market price, the profit on $MAGA was reduced by $3.94 million, which was caused by the decrease in the token appreciation. Consequently, theunipcs.eth saw a reduction in possible profit on this investment, which proves that cryptocurrency trades also involve specific risks if done in a timely manner.
Through this case of theunipcs.eth, it is quite evident that the crypto market is capable of generating profits as well as losses. While $DOGE is still paying high returns and $MAGA is volatile, this case of one aggressive investor shows the risks implied in the trading. Whether this diamond-handed trader will cash in these gains or keep holding them remains to be seen, but this story is indeed a good representation of the crypto market, high risk and even higher reward.