Trader Earns $140,000 in 20 Minutes Following Binance Listing of MOODENG Perpetual Contract
As originally reported by Coinpedia Fintech News, a trader recently achieved a substantial profit within minutes, following a series of strategic trades on Binance.
On October 25, 2024, Binance, the world’s largest cryptocurrency exchange, listed the MOODENG perpetual contract, generating notable market interest. Shortly after this listing, a trader seized the opportunity, investing 1,300 SOL to acquire 2.77 million MOODENG meme tokens, according to data provided by Lookonchain.
Following Binance's announcement, MOODENG's value surged significantly. The trader quickly sold their holdings for 2,109 SOL, securing a profit of 809 SOL, approximately $140,000. This was not an isolated event; the same trader employed a similar strategy a day earlier on October 24, 2024, with Binance's GOAT perpetual contract listing, netting an additional 99 SOL (worth roughly $17,000) in profits.
MOODENG’s Price Momentum
As of this writing, MOODENG trades at around $0.228, marking a 190% increase in value over the past 24 hours. During this period, its trading volume spiked by 470%, highlighting increased trader and investor engagement post-listing. This surge in interest has propelled MOODENG’s market cap to $224.6 million.
Rising Open Interest
The open interest in MOODENG has surged by 350% over the last 24 hours and by 32% in the last four hours, reflecting heightened trading activity following its listing on Binance. Data from Coinglass further indicates that MOODENG’s long/short ratio currently sits at 1.03, signifying a strong bullish sentiment among traders.
The rapid price movements and trading activity underscore the potential for swift profits following strategic investments on new Binance listings, as seen in the recent success of MOODENG.
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