According to on-chain data provided by Lookonchain, a crypto whale has made a huge profit with AI-driven altcoins and memecoins.
According to the data, the total earnings of this crypto whale were as follows: $5.14 million in GOAT token, $4.5 million in AI16Z, $4 million in Fartcoin, and $4 million in ARC token.
Looking at the details, it appears that the whale purchased GOAT tokens when the total market value of the token was less than $ 2 million. The whale, who initially spent $ 62,000, sold these tokens for $ 5.2 million, making a significant profit.
For AI16Z, the whale spent $123,000 to buy the token when its market value was $22 million. The whale, who earned $1.78 million from the part he sold, currently holds $2.9 million worth of AI16Z tokens in his wallet.
In Fartcoin, one of the popular memecoins of recent times, the whale chose to buy this altcoin as the market value of the token approached $ 7 million. The whale, who sold some of the Fartcoins he bought for $ 121 thousand for $ 610 thousand, still keeps $ 3.55 million worth of Fartcoin in his wallet.
It was observed that the whale purchased the ARC token when its market value was below $ 15 million. The whale, who sold these tokens that he bought by spending $ 212 thousand and got his principal back, currently holds $ 4 million worth of ARC tokens.
According to Lookonchain analysts, this whale appears to have made some new investments. According to on-chain data, he has purchased memecoins CREATE, PIPPIN, SANDY, MOLE, and FORGE.
However, considering the whale’s past successful investments, there is also a possibility that this person could be an insider and that these altcoins could see a major sell-off. Especially new altcoins and memecoins with low market caps carry high risk.