A crypto trader has generated a staggering $1.27 million profit from an initial investment of just 3 ETH (approximately $7,257) in only 16 days by trading the meme token Asteroid Shiba ($ASTEROID). On-chain data from Lookonchain reveals that the trader purchased 4.28 billion $ASTEROID tokens shortly after they became available, then sold the entire position for 550 ETH ($1.27M), realizing a net gain of 547 ETH ($1.26M) — a remarkable 183x return.
The transaction was executed via wallet addresses 0xa22…2b162 and 0xaa5…1f17b. The $ASTEROID token saw a sharp price surge as speculative demand increased, reaching a peak price near $0.0000000000005909 before the trader exited. At the time of reporting, $ASTEROID was trading at $0.0002896, down 11.26% over the past 24 hours, with a market capitalization of $121.8 million and liquidity of $3.5 million. Trading activity remained intense, with over 3,320 transfers totaling $1.9 million, while sell orders slightly outweighed buys at $2.0 million, signaling profit-taking after the token's meteoric rise.
The trade highlights the high-risk, high-reward nature of early-stage meme token trading, especially on decentralized exchanges that enable access before centralized listings. Similar trades carry significant risk and are not consistently replicable. Meanwhile, broader Ethereum market conditions saw ETH price hovering around $2,303, with a 0.14% daily increase and 12% gain over 30 days. However, 24-hour trading volume declined by over 40% to $7.21 billion, indicating cautious sentiment among market participants.
Analysts noted that ETH is approaching a potential breakout from a descending broadening wedge pattern, with a target near $3,700–$3,800, but faces resistance at the weekly 200 SMA, which could trigger a short-term correction. Key support remains near $2,100.
