A whale made a big move in ApeCoin ($APE ), but the outcome wasn’t what they expected. In 2023, this investor bought 582,000 $APE for a hefty sum of $2.24 million, paying $3.85 per token.

Hoping for a strong return, they also staked the tokens, earning an additional 208,000 $APE in rewards.

Fast forward to a recent 100% price surge in ApeCoin.

This would seem like good news, right? However, when the whale decided to sell all 790,000 $APE, they only got $1.18 million back.

Even with the staking rewards and price spike, they still lost $1.06 million, a crushing 47% loss.

Despite the recent surge, the price simply didn't recover enough from what they initially paid, leaving them with a significant loss.