Three Enormous Crypto Whales Make Waves with Massive Trades: One Turns $113K into $3.4 Million!
An unidentified crypto trader has managed to transform a $113,000 investment into an astonishing $3.4 million by trading a memecoin called DEGEN. On February 22nd, this trader converted 38 ETH ($113K) to Base and then acquired 85.36 million DEGEN with 31.6 ETH ($108K) on March 2nd.
The recent sale of 72.73 million DEGEN resulted in the trader earning $2.83 million USD, leaving them with 12.6 million (equivalent to $600 thousand) DEGEN tokens.
In yet another remarkable occurrence, an investor not only made $1.35 million from a memecoin named BOME but also garnered over $90 million from a memecoin called MEW. By spending SOL 5,490 ($1.07 million), the investor obtained 9.58 billion MEW, which represents 10.8% of the total supply. The unrealized profits from this endeavor have now surpassed $90 million.
However, while some traders manage to earn substantial amounts from memecoins, it is crucial to note that most traders incur losses in these highly volatile cryptocurrencies.
In a separate development, the whale with the short address 0x506 (yfimaxi.eth) has been observed shifting positions from LDO to SHIB. The whale recently sold 131.297 LDO ($369K) at $2.80 and purchased 1.5 billion FLOKI at $0.0002465.
*Please note that this does not constitute investment advice.