Simon's Cat Team Made $2.92 Million in Profit by Sniping CAT Tokens!

Bittime - Based on reports from Lookonchain, the Simon's Cat team is alleged to have carried out a sniping strategy on CAT tokens and made a profit of $2.92 million in just 5 hours.

Sniping Token CAT

Sniping is a trading strategy that involves buying and selling digital assets in a very short period of time to take advantage of rapid price movements. 

In this case, Simon's Cat Team spent 2,500 $BNB, equivalent to approximately $1.46 million, to add liquidity and purchased 318.87 billion $CAT tokens. This process also involves a gas fee of 127 $BNB or approximately $74,000.

Read Also: Smart Money Profits 6258% from MIGGLES Tokens!

Purchase and Sale of CAT Tokens

After successfully acquiring 318.87 billion $CAT tokens, the team then sold all the tokens for around 763.9 billion $BNB, which is equivalent to $4.45 million. 

From this transaction, the Simon's Cat Team managed to gain a net profit of 501.2 billion $BNB, or around $2.92 million. 

Impact of Sniping on the Market

Sniping is not a new strategy in the crypto world, but the Simon's Cat team's success in doing it so quickly and profitably has caught the attention of many. 

This kind of strategy can often cause price volatility in the short term, especially in digital assets that have low or medium liquidity. 

In some cases, sniping can trigger a significant price increase before a correction occurs.

Read Also: Smart Money Raises $1.2 Million Through BananaGun Opening at RCH

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

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