Meme tokens continue to be popular among investors, generating millions of dollars with their rise.
However, due to their volatile nature, mem tokens can cause large losses as well as gains. At this point, the timing of investments in meme tokens is important.
According to Lookonchain's post, an investor lost $2.55 million (85.5%) in Shiba Inu (SHIB). However, this investor did not give up and invested in a new meme token.
When we look at this investor's transactions, it is seen that he buys at the top and sells at the bottom.
The investor who lost $2.55 million on SHIB purchased 67B PEPE ($1.02 million worth) from OKX.
Looking at the SHIB transaction, this investor bought during the period when SHIB was rallying, but then sold with an 85% loss. At this point, PEPE has also been experiencing a rally recently, so this investor seems to have bought PEPE, also a meme token, at peak levels.
Will the unfortunate investor be able to make money from PEPE this time?
Someone withdrew 67B $PEPE($1.02M) from #OKX 30 mins ago.
It is worth noting that this guy lost $2.55M($-85.5%) in $SHIB before.
He bought 40.9B $SHIB($2.98M) at high price points during the bull market, and when the bear market came, he sold all of it at a loss.
Can he make… pic.twitter.com/qo0dRbSVXF
— Lookonchain (@lookonchain) May 29, 2024
1.197x Earnings on WIF!
Another investor made a 1,197x return on his investment in WIF, another popular meme token. Accordingly, an investor purchased 6.1 million WIFs by spending only $ 5,879 on December 8, 2023. The investor then intermittently sold 4.7 million WIFs and made a profit of $1.57 million.
This investment still has 1.4 million WIFs worth $5.47 million. This means that the investor made a profit of $7 million, or 1.197x, from his WIF investment.
Every time $WIF goes up, this 1,000x winner sells part of $WIF for profit.
He spent only $5,879 to buy 6.1M $WIF($23.7M currently) on Dec 8, 2023 and then sold 4.7M $WIF($1.57M) successively.
He still has 1.4M $WIF left, worth $5.47M.
His profit on $WIF is ~$7M, a gain of… pic.twitter.com/iSZDVoYhhQ
— Lookonchain (@lookonchain) May 29, 2024
*This is not investment advice.
