Crypto expert makes 12000 profit trading in Beast token

While the cryptocurrency market is known for its volatility, it can also be a highly profitable arena for investors who have mastered the art of timing their trades effectively. A professional crypto trader recently showcased this skill by earning a staggering profit of over 12,000% on a single meme coin.

CoinsKid, a pseudonymous expert in the crypto market, shared his success story with Bonk (BONK), a meme coin that surged over 12,000% from its entry point in 2023. In a post on X dated June 10, CoinsKid highlighted his profitable trade and mentioned that he had previously recommended Bonk twice in 2023. He is now waiting for a potential entry point, anticipating a breakdown of the rising wedge chart pattern near the green line.

At the time of CoinsKid’s remarkable trade, the price of Bonk stood at $0.0000280174, marking a significant increase of 12,674.82% since his entry. However, the price has since dropped by 1.81% to $0.00002751. The 7-day chart for Bonk indicates a 1.56% decline for the day and a 20.23% decrease for the week, suggesting a possible entry opportunity for the analyst as the price hovers above the 100 exponential moving average (EMA) with a target of $0.00004.

While a drop below the EMA could signal further price declines, conducting thorough research and assessing risks are essential when investing substantial amounts in any asset, whether it be crypto, stocks, real estate, commodities, or other financial instruments.

Disclaimer: The information provided in this article is not intended as investment advice. All investments carry a level of risk, and individuals should exercise caution and conduct their own due diligence before making any financial decisions.