September 28, 2023
Smart Money
5
mins
Author:
0xScope

Fine profits from meme coins, big-name tokens

Scopescan’s Smart Money feature reveals the entities that consistently manage to extract value through unconventional trades. In this report, we will unveil the array of actions undertaken by these astute investors over the past week, with the aim that you glean insights that may prove illuminating.

The data presented in this article is derived solely from Smart Money transactions during the period of September 21 to 28, 2023. This implies that any purchases and holdings made prior to September 21 are not taken into consideration.

Smart Money’s Top Performing Tokens

Here are the tokens through which Smart Money has captured the most value this week. The tokens are ranked based on Smart Money’s profit amounts.

On this week's Smart Money top performing tokens list, serious, established crypto projects like Maker ($MKR) and Chainlink ($LINK) share space with meme coins, two of which are on top of the rankings.

This week's top performing token for Smart Money addresses is Fine ($FINE), a popular meme coin based on the "This is Fine" meme. Despite trading for just 15 days as of today, $FINE warranted huge Smart Money interest, with a total of 177 addresses buying the token this week. Even better, these addresses earned $219,000 in total profits at an average ROI of 25.63% from the meme token.

The next token in our list is SPX6900 ($SPX) a meme coin that launched last month and has an even crazier reputation. Named as a parody version of the S&P 500 index, $SPX's official website and social media channels are filled with nothing but memes of anime girls. But don't be fooled by its wacky nature; $SPX recently surged by 20%, resulting in profits of about $136,000 across 79 Smart Money addresses that invested in the token this week.

Coming in at No. 3 in our rankings is a token that's definitely more serious: Maker ($MKR). We briefly covered $MKR last week as one of the more established tokens that are performing well for Smart Money addresses. Since then, the token has maintained its momentum, as its price hit a 16-month high. The 8 Smart Money addresses that bought $MKR profited almost $103,000 this week, rewarding their continued belief in the Real World Asset (RWA) crypto token.

Smart Money Addresses to Watch This Week

Let's take a look at some of the Smart Money trades that have occurred this week.

The top Smart Money address this week, 0xf340c, achieved a remarkable 98% gain, earning $55,000 from trading $SPX. This address made approximately 20 purchases near the $0.0038 price point, each costing about $1,600. Currently, $SPX is priced at $0.008, surpassing its previous high of $0.007 on August 22nd, but despite this profit-taking opportunity, 0xf340c still holds $SPX. This Smart Money address' decision to buy into this meme coin after a month-long decline and then witness a sudden price surge is quite intriguing, and it suggests that the owner of this address may have some insights on the best time to buy meme tokens. If you're interested in this coin, it might be worth keeping an eye on Smart Money's next moves.

Regarding the next token, $FINE, it experienced an impressive 80% increase today, and these two Smart Money addresses had positioned themselves earlier to capitalize on this profit surge. 0xf5b02 started buying on September 25 and has earned a 50% profit worth $25,000 this week. Although 0xf5b02 sold one-fifth of their holdings at today's peak of $0.000000019, it still hold 2.1 trillion $FINE ($40,000). On the other hand, another address, 0xa9dc, gained a 34% profit worth $18,000. However, unlike the first address, 0xa9dc chose to continue buying even after the price increase of $FINE.

Now, let's shift our focus to smart traders in $MKR, such as these two addresses: 0xa3220 and 0xe205e. 0xa3220 bought 101 $MKR at a price of $1,270, resulting in a 20% profit and $25,000 in earnings. Similarly, 0x6cea acquired $MKR at $1,290 and, like the former, appears to be holding in anticipation of further gains. Moving on to two heavyweight players (0x5cdd and 0x6cea), they seem bullish on $MKR's future. On September 28th, today, when $MKR was close to $1,500, the two addresses continued to accumulate substantial amounts. Currently, they hold 536 $MKR (valued at $820,000) and 958 $MKR ($1.46M), respectively. If you're considering buying $MKR or are interested in the RWA (Real World Asset) sector, especially given the substantial price increase of $MKR, particularly for a token with such a large market cap, it's a wise strategy to monitor their future moves to manage risk effectively.

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Disclaimer

This report is based on sources believed to be reliable, but we cannot guarantee its accuracy or completeness and are not liable for any losses arising from its use. It provides general information only and should not be seen as investment advice; users must make their own investment decisions.

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