Title: Beware: Prominent Investor in Altcoin Sells Off Majority of Tokens
A notable whale, one of the original investors in an altcoin, has recently offloaded nearly all of its tokens, as per Onchain data.
The cryptocurrency analysis firm Lookonchain revealed that this early whale divested the altcoins it held in the particular altcoin.
Reportedly, the whale initiated the selling spree in the memecoin known as BEER, raking in a substantial profit of $1.3 million.
During the BEER altcoin presale, the whale splurged $50k on Solana, acquiring 3.38 billion tokens in exchange.
Further insights suggest that the whale procured an additional 1.86 billion BEER tokens by selling off the $192,000 BONK memecoin. Subsequently, the whale’s wallet pocketed a profit of $120 thousand by selling 240 million tokens after BEER was listed on Gateio.
Today, the significant whale liquidated nearly all of its BEER tokens, amounting to $4.6 billion, and garnered $1.34 million. Nevertheless, the whale still retains 400 million BEER tokens worth $109 thousand in its wallet. Overall, the whale managed to secure a profit of $1.3 million from these transactions.
Please note that this article does not constitute investment advice.
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