One \u201clucky\u201d trader is drawing attention for taking huge profits in just one month by trading a new Dogecoin (DOGE<\/a>) and Shiba Inu (SHIB<\/a>) rival.<\/p>\n According to the blockchain-tracking service Lookonchain, the trader racked up about $2.5 million in profits, or a 6,102% gain, by\u00a0buying<\/a>\u00a0and selling Grok (GROK<\/a>), a token inspired by, but unrelated, to Grok AI, a chatbot service on Elon Musk\u2019s social media platform X.<\/p>\n \u201cThis trader made ~$2.5 million (+6,102%) on GROK in one month. Let\u2019s see how he did it.\u201d <\/em><\/p>\n Lookonchain says<\/a> the trader made well-timed Grok purchases and later sold some of the holdings on crypto exchange Gate.io as the memecoin\u2019s value soared. At time of writing, the trader still holds nearly 70 million Grok.<\/p>\n \u201cThis trader was very lucky. He\/she caught Grok three minutes after opening trading and bought a large amount of Grok at a very low price. In less than 12 hours, he\/she had a profit of 140 times, then he\/she bought more Grok.<\/em><\/p>\n When Grok was listed on (crypto exchange) Gate.io, he started depositing Grok to Gate.io to sell for profits.<\/em><\/p>\n This trader spent 21.24 ETH ($42,000) to buy 154.7 million Grok. Then sold 11.88 million Grok for 18.44 ETH ($37,000) on DEX and deposited 72.96 million Grok ($1.38 million) to Gate.io. <\/em><\/p>\n Currently, he\/she still holds 69.87M GROK ($1.16 million), with a total profit of ~$2.5 million.\u201d<\/em><\/p>\n Grok is trading for $0.0165 at time of writing, up slightly in the last 24 hours.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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