The crypto market continues to see wild trading moves, and a recent one on the BNB Chain has caught everyone’s attention. A savvy trader managed to turn $2.8K into $760K small with the newly launched Arabic-themed meme coin, Mubarak. However, despite the impressive gains, the trader left a huge amount of money on the table.
Trader made $760K In Profit
According to data from Lookonchain, this trader initially spent just $2,861 to buy 6.14 million Mubarak tokens on March 13. In less than two weeks, the price of the meme coin skyrocketed, allowing the trader to make a massive profit.
Seven hours ago, the trader decided to deposit all of their Mubarak holdings into Binance, securing a staggering profit of approximately $760,000. This means the small initial investment turned into a life-changing amount in a short period.
Trader Missed Millions In Profits
While making over $750K from a few thousand dollars is already an incredible return, the trader could have made even more. At its peak price, the 6.14 million Mubarak tokens were worth around $1.3 million.
This means the trader missed out on an extra $540,000 in potential gains by not selling at the perfect time.
MUBARAK Gears Up for a Surge Before Eid
A new report suggests that Binance’s founder, CZ, has been actively promoting MUBARAK, which was listed alongside three other tokens. After the initial hype, the coin saw a sharp 40% correction. Right now, Mubarak is trading at about $0.0856, with a market cap of $85.6 million.
Many experts believe the coin could see a strong rally as Eid Mubarak approaches. With traders expecting a potential surge, some predictions suggest that Mubarak could rise to around $0.12 or even $0.15 in the coming days.
