Traders will change $97.7k to 205.7k to $205.7k as $doginme rises 150%

Crypto Trader stopped its stunning profit play and converted its 97.7K investment to 205.7K in just 24 hours. The move took place after traders created a new wallet and spent 51.2 ETH to buy 254.66 million Doginme ($doginme) tokens, looking at the price of Meme Coin Skyrocke, which is over 150% on top of the Coinbase roadmap.

According to Lookonchain, the data reveals that traders have performed a purchase of $Doginme tokens prior to the announcement of the Coinbase list. The investment totaled 51.2 ETH (97.7K), with an average price of $0.00038676, earning 254.66 million tokens. The purchase was strategically well-timed as listing news inspired a sharp price hike. After the announcement, Doginme has experienced a dramatic price rise, earning more than 150%. Currently, the trader’s holdings are worth $205.7k, marking a profit of just $108,000 or 110% in a day.

Coinbase Impact: Meme Coins and $doginme

Coinbase’s decision to add Doginme to its roadmap had a major impact on market sentiment. Historically, Coinbase’s list has driven a surge in prices due to increased exposure and accessibility for retail investors. This pattern, often referred to as the “coinbase effect,” has been unfolding in the past with numerous tokens, leading to speculation and trading frenzy. In this case, Doginme benefited from attention. Traders could rush to buy the token and be used to trade directly on the exchange. The news also boosts token volume and liquidity, making it a hot topic in the crypto community.

Meme coins like Doginme are well known for their volatility and attract both high-risk traders and speculative investors looking for quick profits. The recent surge in Doginme prices highlights the speculative nature of the crypto market, where news-driven rallysations could lead to massive short-term profits. Despite impressive profits, such transactions have inherent risks. The trader has used timing moves, but others may not be so lucky as the meme coins are likely to cause sharp corrections once the hype disappears. Traders and investors should be aware of potential downsides as these assets can experience rapid price fluctuations.

Doginme’s price action shows how quickly emotions change in the crypto market. With Coinbase’s roadmap list, speculations about further exchange integration and increased adoption may continue to drive interest. However, it remains to be seen whether Doginme can maintain its upward momentum or whether profitability will lead to a rebound. For traders, this case serves both as an opportunity and a warning substance. The potential for larger profits is clear, but the risk of entering highly speculative transactions should not be ignored. As meme coins continue to attract attention, market participants need to continue to provide information, manage risk appropriately, and recognize the role of key exchange lists that influence price movements.