Dogecoin: Crypto Trader Makes $1 Million Profit in 30 Minutes

An anonymous crypto trader allegedly bet big on Dogecoin (DOGE) and made a significant profit when Twitter changed its logo and the altcoin surged.

On Monday, a crypto trader with the Twitter handle “Tree of Alpha” reportedly made a profit of more than $1 million from the recent Dogecoin rally influenced by Elon Musk.

1/ Yesterday's Doge trade: On reacting, Sizing, and being degenerate when you need to be.
The essence of News Trading isn't speed, it is knowing when to size up.

I all started when someone in the Tree News Discord posted that they were seeing the Doge icon as the Twitter logo. pic.twitter.com/483AnBWMUk

— Tree (@Tree_of_Alpha) April 4, 2023

The trader, who chose to remain anonymous, shared that he made this profit in just 30 minutes with an $8 million total position size.

Tree of Alpha noticed the Dogecoin icon as the Twitter logo posted by someone in the Tree News Discord messaging platform, prompting him to start buying Dogecoin.

He bought $3 million worth of Dogecoin, followed by $2 million and a final buy worth $3 million, with an average buying price of $0.0815, and exited at around $0.095.

Tree of Alpha exited his Dogecoin trades within 30 minutes due to the possibility of a late April Fool’s joke by Elon Musk, the owner of Twitter.

The trader believes that Twitter could integrate Dogecoin as an acceptable payment method, and it would be wise to keep notifications on relevant accounts for more developments.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.