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The Trader Who Suffered an 85% Loss in Shiba Inu Makes a Bold Move…
The Trader Who Suffered an 85% Loss in Shiba Inu Makes a Bold Move: Could History Repeat Itself?
Whales in the meme token world continue to navigate the waters of profit.
Author:
Elif Azra Güven
May 29, 2024 – 16:04
Update:
May 29, 2024 – 16:04
0
Meme tokens have captured the attention of investors, raking in millions with their meteoric rise.
Yet, the erratic nature of meme tokens can lead to substantial losses alongside gains. Hence, the key lies in the timing of investments in these tokens.
As per Lookonchain’s report, an investor faced a $2.55 million loss (85.5%) in Shiba Inu (SHIB). Undeterred, this trader decided to venture into a new meme token.
A close examination of the trader’s activities reveals a pattern of buying at the peak and selling at the nadir.
After losing $2.55 million in SHIB, the investor acquired 67 billion PEPE ($1.02 million) from OKX.
Having bought SHIB during a bullish period and then selling at an 85% loss, it appears that this trader might have repeated the cycle by investing in PEPE, another meme token, at its peak.
Will fortune favor the bold investor this time with PEPE?
A certain individual withdrew 67 billion
$PEPE
($1.02M) from
#OKX
30 minutes ago.
It’s worth noting that this individual suffered a $2.55M ($-85.5%) loss in
$SHIB
previously.
He purchased 40.9 billion
$SHIB
($2.98M) at high prices during the bullish phase, only to sell it all at a loss when the market turned bearish.
Could he turn the tide this time around?
Earning 1,197 Times on WIF!
In a remarkable turn of events, another investor reaped a 1,197x return on their investment in WIF, a meme token in the limelight. This investor bought 6.1 million WIF tokens for a mere $5,879 on December 8, 2023. By gradually selling 4.7 million WIF tokens, they pocketed $1.57 million in profit.
Currently, the investor still holds 1.4 million WIF tokens valued at $5.47 million. This translates to a profit of $7 million, or 1.197x, on their WIF investment.
Whenever
$WIF
surges, this individual sells a portion for profit.
Having spent just $5,879 to acquire 6.1 million
$WIF
($23.7M presently) on December 8, 2023, and subsequently selling 4.7 million
$WIF
($1.57M) in stages.
With 1.4 million
$WIF
remaining, valued at $5.47M.
Their profit from
$WIF
stands at approximately $7M, marking a gain of…
Notwithstanding, this information is not intended as financial advice.
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