- SmartMoney shows strategic foresight in lesser-known tokens: PEPE and RFD.
- Diversification and patience are essential to SmartMoney’s strategy.
- Short-term losses can potentially yield long-term gains in crypto investing.
As reported by Lookonchain, SmartMoney has been particularly active with some substantial transactions. Notably, the player made a significant move by investing 200 ETH ($363,000) to buy 230 billion PEPE tokens. This was at a price point of $0.000001581 per token, a seemingly risky move given the relatively unknown status of PEPE.
— Lookonchain (@lookonchain) May 24, 2023
Yet, SmartMoney also made a similarly sizable investment in RFD, purchasing 3.98 billion tokens for 165 ETH ($300,000) at a rate of $0.00007529. This indicates the investor’s approach – putting large amounts of money into seemingly obscure tokens, likely with the belief that they will appreciate in value.
However, according to reports, the investment strategy has paid off handsomely. SmartMoney earned a profit of 102 ETH ($185,000) on RFD within just two days, showcasing a keen eye for identifying undervalued tokens with significant upside potential.
On the same accord, SmartMoney had made a profit of 1,219 ETH ($2.2 million) on PEPE before deciding to sell all the PEPE tokens at breakeven. This move again points to the investor’s shrewdness in playing the market, leveraging timing, and carefully tracking token performance.
On the contrary, no investment strategy is without its risks. SmartMoney’s recent purchases of other tokens, such as Midwit, VEGA, and COMFY, show a loss. These three tokens were bought with 20 ETH ($36,348), 26 ETH ($47,027), and 2 ETH ($3,639), respectively.
Despite this, given enough time, these investments could turn into profitable ones. In conclusion, what’s evident from these moves is the willingness of SmartMoney to diversify investments and risk small losses for potentially more significant gains. This investor is not putting all his eggs in one basket but casting a wide net to capture opportunities.