According to cryptocurrency onchain data, a major cryptocurrency whale made a serious profit in PNUT, one of the popular memecoins of recent times.
According to information based on Lookonchain data, this big whale made a total profit of $56 million in PNUT tokens. The details of his transactions are as follows:
This whale started trading memecoins on October 16th. First, he made a large investment in another memecoin, GOAT. However, interestingly, the performance of the GOAT token fell short of expectations and the whale sold when the price was low. However, since he made an early move, he still has $2.78 million worth of GOAT tokens and made a profit of $574,000 on his investment.
In addition, this whale bought a memecoin called FLAVIA at a high price due to FOMO (Fear of Missing Out). The whale’s $1.86 million investment in this token resulted in a loss of $1.55 million, leaving only a balance of $303,000.
However, the whale avoided the FOMO that followed Elon Musk’s tweet about PNUT on November 2, and invested only $15,500 in the token. He then sold for a $1,500 profit and exited without a loss.
From that point on, the whale is thought to have started doing more research on PNUT. He accumulated a large amount of PNUT tokens, spending $2.8 million between November 3 and November 10. The whale did not sell any profits until Binance’s listing announcement on November 11.
The same whale spent $671,000 to purchase the FRED token in the last two days and has now made a profit of $1.24 million.
Looking at the whale’s trading history, it can be seen that he has traded a total of 39 tokens so far. Only 9 of them have brought profit. In other words, despite having a 23% success rate, he has made huge profits thanks to his PNUT and FRED investments.
However, it is important to remember that the nature of memecoins is completely luck-based and involves high risk.
