Not SHIB: Giant Whale Made $864,000 Profit Thanks to This Meme Coin!

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Shiba Inu was a cryptocurrency that attracted a lot of attention in 2021. At the beginning of 2021, the meme coin price was at fairly low levels, but then it spiked a lot. In May 2021, the Shiba Inu saw a huge spike in popularity with Dogecoin.

On this rise, the price of the Shiba Inu rose over 2,000% to a record high. A mysterious whale, which bought more than 195 billion Shiba Inu (SHIB) during this rise, came to the fore this time with its PEPE investment. Contrary to SHIB trades, the whale in question appears to have made a profit of $864,000 on its PEPE investment.

Crypto data provider Lookonchain beware of giant whale’s investments pulled. Lookonchain reported that the whale purchased 1.23 trillion PEPE tokens with 250 ETH ($476,000). On the other hand, on-chain data shows that the whale currently has a balance of 1.299 trillion PEPE.

Data from Etherscan shows that the whale address received 1.299 trillion PEPE for 250 ETH in three transactions from April 20 to April 30. The whale’s PEPE assets are currently valued at $1.34 million and the whale appears to have an unrealized profit of $864,000. Whale is currently the 32nd largest PEPE holder.

Launched in April, PEPE kicked off the next leg of the meme coin craze with its meteoric rise in a matter of weeks. Meme coin recently achieved an 85% increase. Many traders, including the whale address in question, made thousands of profits from the asset.

SHIB Investment

It is also useful to take a look at the SHIB investment of the whale in question. This whale purchased 195.79 billion SHIB in two irregular transactions on October 11, 2021; however, after a series of swaps, the address lost 25 ETH (worth $79,000).

The address now only holds 0.00002492 SHIB as it drained the SHIB balance. The Shiba Inu is trading at $0.000001003, down 88.64% from its ATH. PEPE, on the other hand, is trading at $0.00000104, up 93% in the last 24 hours.

You can follow the current price action here.

Source : the crypto basic


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