The trader leveraged a DEX purchase of $DOGS and capitalized on a CEX listing to secure a 420% profit through strategic timing.
A trader has successfully secured a profit exceeding 400% by trading the $DOGS token, utilizing strategic timing across decentralized and centralized exchanges. The $DOGS token, initially available for trading on a decentralized exchange (DEX), was purchased by the trader at a low price just before its listing on a centralized exchange (CEX).
The trader acquired 55.9 million $DOGS tokens for 3,271 $TON, an investment of approximately $18.4K, on the DEX. Shortly after the purchase, $DOGS was listed on a CEX, where the token’s value increased.
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Source: Twitter
The trader capitalized on this price rise by selling 20 million $DOGS for 6,150 $TON, equivalent to $34.6K. This transaction yielded a significant profit, more than doubling the initial investment.
In a subsequent move, the trader transferred the remaining 35.9 million $DOGS tokens to the CEX, where they were sold for $61K. The combined actions of buying on the DEX at a low price and selling on the CEX at a higher value resulted in a total profit of $77.3K. The overall return on investment was calculated at 420%.
The $DOGS token has been closely monitored within the cryptocurrency community, particularly as it transitioned from trading on decentralized platforms to a broader audience on centralized exchanges.
The trader’s approach to this transition exemplifies how timing and platform choice can significantly impact profitability in cryptocurrency trading.
This case is particularly noteworthy given the precise execution of trades within a short timeframe, allowing the trader to leverage the price differential between the DEX and CEX. The significant profit margin of 420% underscores the effectiveness of this strategy.
The trader’s success with $DOGS highlights the potential financial outcomes that can be achieved through informed and timely trading decisions. The detailed strategy employed in this case reflects a focused approach to navigating the fluctuations in cryptocurrency prices across different trading platforms.