Asteroid Shiba Trader Earns $1.27M from 3 $ETH in 16 Days

A crypto trader has just made a massive return with just a modest $ETH investment. In this respect, the crypto trader has gained a staggering $1.27M after investing just 3 $ETH. As per the data from Lookonchain, the trader has carried out this activity within just sixteen days. Specifically, the trader has leveraged the Asteroid Shiba ($ASTEROID) tokens for this purpose.

Asteroid Shiba Trader Pockets 550 $ETH from 3 $ETH Investment

Based on this on-chain data, a crypto trader has earned a total of 550 $ETH with just a 3 $ETH investment. So, the trader has pocketed up to $1.27M via only $7,257 within 16 days. Particularly, the trader acquired 4.28B Asteroid Shiba ($ASTEROID) tokens by spending only 3 $ETH. Later on, the trader sold the respective amount for a notable 550 $ETH. This denotes a huge 183x return, suggesting the meme-led tokens’ extraordinary wealth-creation potential and volatility.

For this, the trader leveraged the wallet addresses “0xa22…2b162” and “0xaa5…1f17b.” Such swift gains indicate the speculative frenzy covering the unique meme coins, marked by massive losses or gains in days. At the moment, $ASTEROID is changing hands at $0.0002896, underscoring a 11.26% plunge over the past 24 hours. The liquidity of the meme token sits at $3.5M, while the market capitalization accounts for $121.8M.

At the same time, the trading activity of $ASTEROID is intense, with more than 3,320 transfers seen for $1.9M, whereas sell orders modestly outweigh at $2.0M. This signals the wider-profit-taking following the meteoric rise of the $ASTEROID token. The trader base includes 773 sellers and 861 buyers. Irrespective of the short-term pullback, the meme coin keeps attracting speculative interest, placing it among the top-discussed meme tokens.

183x Return Signals Wider Profit-Taking Trend as Newer Investors Face Risks

According to Lookonchain, the transfer records further elaborate on the trading activity surrounding $ASTEROID. Substantial token shifts can be seen, taking into account transactions of almost 1T $ASTEROID in solo interactions. Overall, the trader’s move to lock 183x profit highlights the broader profit-taking wave, while the new market entrants are facing noteworthy risks.