In a particularly high-stake move, a whale investor who lost $611,000 on cryptocurrency $POPCAT paid 8,644 SOL ($1.29 million) to repurchase 1.3 million $POPCAT tokens in an attempt for a financial rebound.Â
A whale who lost $611K(-45%) on $POPCAT before spent 8,644 $SOL($1.29M) to buy 1.3M $POPCAT at $1 again in the past 2 days.Can he make money on $POPCAT this time?https://t.co/xmXhubPcWP pic.twitter.com/mgDzu7gGYZ
â Lookonchain (@lookonchain) September 25, 2024
This massive exchange was brought to the attention of Lookonchain, a blockchain analytics platform that captures the actions of whales and significant changes in the market. The whale bought the POPCAT tokens at $1 each after losing 45% on the investment.Â
Current POPCAT Price Situation and Market CapÂ
The price of POPCAT today is $1.02, with an upward price movement of 10.2 % in the last 24 hours. It has a relatively high diluted valuation, and the market cap is nearly 1 billion USD, so the cryptocurrency is gaining popularity. The 24-hour trading volume comes at $135 million, confirming high traffic regarding POPCAT.
The prices in the last three months have oscillated, depicting the market instability that the holders of $POPCAT have experienced, from the highest of 1.07$ to the lowest of 0.87$ within the last 24 hours. For instance, in the earlier dips and surges in July, the investor lost 1.69 million POPCAT tokens, equivalent to huge losses. Still, the new investment implies a revival of confidence in the cryptocurrency to bounce back and even boom.
Current trade data reveal more volume than before, with $135 million of POPCAT sold on the last day. The total quantity of $POPCAT is approximately 980 million tokens. It is also up to the market capitalization range, which means that the total outstanding share is also included.
Will the Whaleâs Risk Pay Off
While the whaleâs new investment caught the crypto communityâs attention, the big question remains: Can Whale make money on $POPCAT this time? This action is very dangerous, to say the least, but it also shows that investing in cryptocurrencies is highly speculative.Â
Investors and market analysts are very cautious with their expectations. On the one hand, the recent increase in price could be an indication of the future growth of $POPCAT. On the other hand, the crypto world is volatile and unpredictable. The whaleâs decision to buy back into POPCAT at $1 per token could give a potential turnaround or deepen the losses if the price dips again.
If the price of POPCAT rises and people become more interested in the token, it can be a profitable risk. Nevertheless, its price has had its fair share of fluctuations in the past, and given the investorâs previous losses, it is a very risky investment. At the moment, everyoneâs waiting to see if Whaleâs move will put them back in the green or if it will just mean another round of significant losses.