A cryptocurrency whale, one of the early investors of Shiba Inu (SHIB), has traded multiple meme tokens, according to on-chain data.
According to data provided by Lookonchain, the whale in question bought PEPE and WOJAK meme tokens in its last transactions.
PEPE is a token based on the Pepe the Frog meme, which is widely used in online culture. WOJAK, on the other hand, is a token based on the Wojak aka Feels Guy meme, which depicts a bald man with a sad expression.
Whale started purchasing SHIB at a very low price on January 30, 2021. It bought 188.6 billion SHIB for $96.5k and sold 95.3 billion SHIB for $1.18 million. It currently holds 92.3 billion SHIB ($929k) and earned about $2 million from SHIB.
Whale bought 19 ETH ($36,415) for 72.83 billion PEPE (currently $95,610) and 30.5 ETH ($61,170) for 529 million WOJAKs (currently $329,315).
Meme tokens are highly volatile and speculative assets that may not have any intrinsic value or utility. They may be subject to market manipulation, pumping and dumping schemes, and regulatory uncertainty.
*Not investment advice.