A crypto trader with a keen eye for artificial intelligence (AI) projects has reportedly amassed profits of more than $17 million from several AI-focused tokens, and on-chain data now points to a pivot toward fresh memecoins. According to an analysis shared by Lookonchain on X, the trader’s largest gains stem from early positions taken in GOAT, ai16z, Fartcoin, and ARC.

Crypto Trader Turns AI Coins Into $17 Million

Lookonchain reports via X, “What a smart AI coin trader! Profits exceeded $5.14M on GOAT. Profits exceeded $4.5M on ai16z. Profits exceeded $4M on Fartcoin. Profits exceeded $4M on arc. Let’s take a look at which tokens he is buying.”

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The trader’s most significant win reportedly came from GOAT. He entered the token at a time when its overall market cap was below $2 million dollars, spending around $62,000 to purchase approximately 11.1 million GOAT tokens. After riding GOAT’s rapid ascent, he sold all GOAT with a total of about $5.2 million, netting an estimated $5.14 million.

His performance with ai16z – a decentralized AI-powered trading fund on the Solana blockchain – is similarly impressive, as he spent one $123,000 to acquire 6.17 million tokens at a market cap of $22 million. Lookonchain’s data indicates that he sold 4.67 million ai16z tokens at around $1.78 each and still retains 2.65 million tokens currently valued near $2.9 million. According to Lookonchain, this amounts to a total ai16z profit of more than $4.5 million.

The analysis also highlights significant gains from Fartcoin, which the trader bought at a market cap of under $7 million, paying $121,000 for around 9.46 million tokens. He sold 6.81 million of those tokens for $610,000 while keeping 2.65 million tokens that are collectively valued at $3.55 million, bringing his net profit on Fartcoin to roughly $4 million.

A similar pattern emerged in his ARC position, where he invested $212,000 to acquire 11.6 million ARC tokens when the project’s market cap was approximately $15 million. After selling 1.6 million tokens for $212,000, he currently holds 10 million arc tokens worth about $4 million, resulting in another $4 million profit.

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Lookonchain’s post also details the trader’s recent moves into several smaller-cap memecoins, including CREATE, PIPPIN, SANDY, MOLE, and FORGE. A screenshot provided by Lookonchain shows that he financed part of these purchases by selling Fartcoin in two batches of 25,000 units for $31,446.35 and $29,681.37, respectively.

Additional funding appears to have come from selling Wrapped SOL (WSOL) in multiple transactions, including 100 units for $21,611, 50 units for $10,805.50, and 153 units for $33,069.42.

The distribution of these WSOL sales suggests a methodical approach to securing liquidity before deploying funds into CREATE, PIPPIN, SANDY, MOLE, and FORGE. In total, he allocated $202,255 to acquire stakes in the memecoins. He spent $61,127 on CREATE, $21,611 on PIPPIN, $21,611 on SANDY, $65,486 on MOLE, and $32,420 on FORGE.

At press time, GOAT traded at $0.52.

Featured image from iStock, chart from TradingView.com

A crypto strategist and trader is laying out his predictions for the digital asset market for the first few months of the year, including his Q1 outlook for Ethereum (ETH).

The analyst pseudonymously known as Inmortal tells his 222,400 followers on the social media platform X that he thinks Ethereum is gearing up for rallies this quarter.

The trader believes that ETH is about to follow in the footsteps of its Q1 2024 price action.

“ETH about to have a good Q1.”‘

Looking at the trader’s chart, he seems to predict that ETH will hit a new all-time high of $5,300 by March. At time of writing, ETH is worth $3,646.

He also thinks old altcoins and artificial intelligence (AI)-focused projects will ignite rallies in the next three months.

“In Q1:

1. ETH outperforms.
2. SOL go +$300
3. AI coins mega-pump
4. Memes underperform
5. Dino coins have a good run.”

While the analyst believes memecoins will not see huge rallies in Q1 of this year, he says that Floki (FLOKI) will be an exception.

“High conviction on the memecoin leader.

FLOKI.”

Based on the trader’s chart, he appears to suggest that FLOKI is mirroring Pepe’s (PEPE) late 2023 to early 2024 price action when the Ethereum-based memecoin went parabolic after months of sideways movement. The trader seems to predict that FLOKI will hit a new all-time high of $0.0005 before the end of Q1.

At time of writing, FLOKI is trading at $0.00019.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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