A smart whale made nearly $3.96M by selling $POPCAT and shifting $1.45M into $GIGA, showing strategic timing and market awareness.
$POPCAT’s price dip may be tied to geopolitical tensions and investor caution over potential corrections in the crypto market.
The whale's history with $POPCAT reveals the profitability of meme coins, earning $4.36M from strategic buys and sells within a month.
A smart whale has executed profitable trades on the meme coin $POPCAT and shifted investments into $GIGA. According to LookOnChain, the whale sold 2.66 million $POPCAT at $1.36 in the last 20 hours, earning a nearly $3.96 million profit. Despite the sale, the whale still holds 3.45 million $POPCAT tokens, valued at around $4.48 million.
https://twitter.com/lookonchain/status/1843501111795429469 Whale Shifts Focus to $GIGA
Besides selling $POPCAT, the whale used $1.45 million in USDC to purchase 30.22 million $GIGA tokens at $0.048 per token. This move shows reallocation, possibly expecting a price correction in $POPCAT after it hit an all-time high of $1.40. Consequently, the investor might have chosen to capitalize on the high prices, locking in profits.
Moreover, this isn’t the first time the whale has benefitted from $POPCAT’s price surge. In less than a month, the trader earned $4.36 million by purchasing 6.11 million $POPCAT at $0.68 in mid-September and selling when the token reached $1.40. All this shows the volatility and potential profitability of meme coins in the crypto market.
Market Sentiment and Broader Factors
Profit-taking may not be the only reason for the recent decline in $POPCAT's price. The Middle East's geopolitical unrest may have contributed to investors' aversion to high-risk assets like meme coins.
Market confidence has also been negatively impacted by the continuous uncertainty surrounding the US Supreme Court's ruling on the $4.4 billion in Bitcoin that was taken from the Silk Road case. The possibility of the US government selling this massive Bitcoin stash has contributed to growing concerns about a correction in the crypto market.
The Whale’s moves show the impact of timing and market sentiment in cryptocurrency investments. The change from $POPCAT to $GIGA is the way in which investors can take advantage of volatility while anticipating corrections.
The post Whale Profits Big on $POPCAT, Reinvests $1.45M in $GIGA Amid Market Volatility appeared first on Crypto News Land.
