Amid a downtrend market and disorienting money flow, the emerging wave of memecoins attracted the attention of many crypto investors. A series of coins have had spectacular growth.
Currently, the attractive investment opportunity in memecoin is gone. Instead, the Spaceport Intern continued to explore the big wallets to draw lessons for himself.
The wallet address he will analyze in this article comes from a famous Twitter account. With the appearance of ARB and the Memecoin craze, this character has received many losses and also had many winnings.
For many objective reasons, the Spaceport Intern will not disclose the identity of the owner of the wallet address analyzed in the article. The address used by him:
0x4dbe965abcb9ebc4c6e9d95aeb631e5b58e70d5b
Unlike most of what the market showed in 2022, since the beginning of 2023, Bitcoin and many other Altcoins have grown enormously. The crypto community calls this rally the mini-uptrend.
Bitcoin continuously creates surprises when conquering the milestones of 18,000 - 20,000 USD. Especially at the 25K mark, the author noticed a significant change in sentiment instead of the gloomy atmosphere covering the whole market.
In addition, the arrival of ARB with a massive airdrop for the community increased the excitement of many investors. The above action is like governments have just launched a relief package regarding people's "lack of money" during the Covid-raging period.
Seizing the opportunity, the main character in this article quickly transferred 1 million USDC from Ethereum to Arbitrum to hunt for speculation opportunities in the excitement of the market.
$ARB was set to list on March 23. However, three days earlier, the main character expressed FOMO sentiment through a tweet announcing an OTC buy price of $1.01 per ARB coin - a price at which Arbitrum's fully diluted capitalization is on par with the competitor Optimism.
It's unclear how many OTC trades the character bought, but the on-chain trace tells me he spent all of his 1 million USDC for ~731,357 ARB shortly after the token hits the market.
Plus, the airdropped ARB, the average price for each ARB he bought was around $1.35. v
Different from the initial excitement, after only one day, he silently sold all $ARBs with an average price of about 1.45 USD - equivalent to a profit of more than 75,000 USD.
He also made a good decision because he could close hit position before the price drop.
It took 6 hours, and when the price had dropped more than 10% from the profit-taking price, the owner of the wallet 0x4d...d5b admitted on Twitter that there was no longer an ARB position.
A prime lesson for all investors in the market, especially newbies: "Don't believe what they say; look at what they do." If you are investing passively, try listen and wait. Appeals from others, the odds are high that you will lose it all.
On March 29, the Spaceport Intern noticed that he bought back nearly 33,000 USD of ARB at 1.2 USD and has yet to sell as of the time of writing.
Additionally, he's still using his own profits to continue betting on the price of $ARB. In the worst case, this man only lost part of the profit from the previous $ARB trade.
Temporarily put aside trading activities on the Arbitrum ecosystem. On March 27, the character rebalanced his capital and transferred 1 million USDC back to the Ethereum network, starting with other future trades.
The owner of the wallet address 0x4d…d5b is a trader with a lot of transaction frequency, and maybe the author has followed the right wallet that he specializes in hunting low-cap projects in the market. He often compares his investments to flights, and not every flight goes smoothly.
Memecoins have become a feature of the Crypto market. Although created as a joke, the tokens still urge many investors to pay attention because of the unbelievable life-changing stories surrounding them.
This mysterious investor once put a question mark that:
However, instead of taking an opposing view and turning his back on the memecoin, he still chose to find opportunities with it.
This is the mindset that any investor in the Crypto market should have if they set big goals. More specifically, we will pay attention to where there is cash flow.
As someone always looking for opportunities, our main character recognizes the PEPE fever immediately.
When the author closely observed the trading time of meme coins, he noticed that wallet owners 0x4d…d5b often tend to buy meme coins very early and are ready to cut losses when it goes against expectations.
The Hold-to-Die mindset is not present in this risky hunt.
Spending more than 1.5 million USD, he earned a profit of more than 100,000 USD after scattering more than a dozen meme coins.
Unfortunately, this man still wasn't lucky enough to find PEPE early or the hot memecoin LADYS after dozens of trying his luck with many different Shitcoins.
His memecoin transaction history is denser and denser, even as many of the already explosive memecoin waves have experienced explosive growth.
Explaining the above buying decisions, this investor said that PEPE had not been listed on the top exchanges in the market. That could be the ultimate motivation.
Among hundreds of different choices in the memecoin craze, choosing a potential coin is inherently challenging. How to hold a profit of hundreds, thousands of times is even more difficult because Rug Pull and the possibility of collapse at any time is always present.
Therefore, when the author discovers the deals that make millions of dollars from a few thousand dollars in capital, the author is curious about who is behind those wallet addresses.
This question can help you reduce the FOMO and stay more rational when the market shows another explosive trend.
Characters in the article as an example. Through dozens of winning and losing attempts, the profit he received was only about 6-8% after the wave of memecoins.
There will likely be people who criticize this profit level, but in terms of capital size and management skills, he is also worth learning.
Finally, on May 19, the character decided to restructure his assets into 2 million USD ETH - accounting for 93.9% of total assets as a hideout in the bear market.
One thing in common with most of the big players in the Crypto market is that they almost don't miss any noticeable trends in the market - what Crypto circles call "Narratives."
Therefore an extraordinarily open mind is a must in every investor when entering the Crypto market.
Lastly, to fully benefit from airdrop guides and interesting articles, it's essential to stay updated on the latest airdrops and participate in as many as possible. You can do this by following https://twitter.com/spacepixel and subscribe to Pixel’s newsletter.
Many sources influenced this article. In particular, I should note: Coin98.net