According to a post shared by cryptocurrency onchain analytics firm Lookonchain, a memecoin trader has come to the fore after showing unusual performance.
According to the data, this whale made a profit of $2.19 million in PEPE, $1.7 million in SPX, $1.37 million in MOG and $207 thousand in WOJAK in a short period of time.
Going into details, with the recent increase in the price of SPX, this crypto whale made a profit by selling SPX and used them to buy more PEPE and WOJAK.
According to the data, the whale wallet spent $57,000 to buy 10.1 million SPX tokens between December 19 and May 21, 2024, and after the rise, it sold 9.1 million of them for $1.12 million. As a result of this transaction, the whale was left with $636,000 worth of SPX. The total profit on SPX was $1.7 million.
In addition, we see that this whale wallet has been accumulating PEPE tokens since November 10, 2023, and currently has 318 billion PEPE tokens worth $3.24 million in two separate cryptocurrency wallets. The amount of unrealized profit is around $2.19 million.
On the MOG side, the whale has been trading MOG since January 22. On that date, the wallet spent $194,000 to buy 802.4 billion MOG and sold 154 billion of them for $278,000. The whale currently has $1.29 million worth of MOG in its stash, with a total profit of $1.37 million.
Finally, this talented whale has accumulated 352.69 million WOJAKs worth $455,000 since December 19. He spent $248,000 on these tokens and his unrealized profit amount is $207,000.
However, it is not clear exactly how this crypto whale knew that these tokens would appreciate in value, and the majority of investors in memecoins are losing money rather than making a profit.
*This is not investment advice.
