Memecoin transactions made by some lucky whales continue to come to the fore in the cryptocurrency market.
According to onchain data provided by Lookonchain, a crypto whale made a huge profit from a trade by spending just 1 SOL token.
According to the data, this crypto whale spent 1 SOL, or about $169 at the time, to buy a memecoin called Mundi. Following the rise in the Mundi token, this lucky whale's assets increased by 2,580x to $435,000.
However, it is important to note that most memecoin investors are losing money and this whale may also be an insider trader for the token in question. These tokens are usually created only for pump and dump schemes.
According to the data, before this purchase by the whale, another memecoin called Ban emerged and became the subject of a huge FOMO. The whale wallet did not succumb to this FOMO and instead turned to Mundi, an older memecoin. When the whale wallet made the purchase, the market value of this altcoin was around $8,500. He bought 19.79 million Mundi for 1 SOL and held on to his tokens for a while without selling them.
Four days ago, after the rise, he started to sell his assets and sold 18.19 million Mundi tokens for 1,428 SOL, or around $336,000. The whale currently has 1.6 million Mundi tokens, or approximately $99,000 worth of tokens.
*This is not investment advice.
