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"Smart Money" tracker @lookonchain spreads the word that a SHIB whale who stayed inactive for a year, has "awakened."
This wallet contains $7.5 million in Shiba Inu – that is 756,048,387,096 SHIB meme coins.
Here's what whale bought first
The first thing the whale did, per @lookonchain's tweet, was to begin to buy other meme cryptocurrencies. He bought six coins – PEPE, WOJAK, AFY, Dione, DMTR and VAI.
In addition to that, the whale also grabbed 179 million FLOKI from Flokitars Deployer.
Early SHIB buyer sells for healthy profit
The above-mentioned source revealed that the whale initially bought 1 trillion Shiba Inu very early, paying 10 ETH for it (worth $15,118 back at the time of the purchase, roughly $1,510 per ETH).
After SHIB surged in price, the whale sold 703 billion of this meme coin, earning 676 ETH - $2.24 million. He also sold 300 billion SHIB on Binance once the coin was listed there and got another $5.3 million. That is a total profit of $7.5 million.
1/ A SmartMoney who made ~$7.5M on $SHIB woke up after more than a year of dormancy and bought 6 #MEME coins.
— Lookonchain (@lookonchain) May 5, 2023
Including $PEPE, $WOJAK, $AFY, $Dione, $DMTR, $VAI.
He is also very lucky to get 179M $FLOKI ($9,378) from Flokitars Deployer. pic.twitter.com/dV0wCirFVT
This whale turned $260 into $8 million with PEPE
According to a recent tweet of Arkham, a dimethyltryptamine.eth wallet bought $260 worth of PEPE meme coin early, right after launch.
By now, as the coin has been listed both on Binance and Bitfinex and its price went through the roof, this investment of $260 has turned into nearly $8 million, as can be seen on the screenshot.
News just in that $PEPE is getting listed on Binance.
— Arkham (@ArkhamIntel) May 5, 2023
Remember dimethyltryptamine.eth?
He still hasn't sold, and his account is now worth almost $8M.
All from a buy of $260. pic.twitter.com/UDqIZarr00
Earlier today, CZ of Binance reminded the community that meme coins are high-risk assets. He stated that nobody is forcing the crypto community to buy them and that they should DYOR – "do your known research."
Aside from PEPE, Binance has listed popular FLOKI meme coin. However, later, it announced that deposits for PEPE and FLOKI were suddenly suspended due to technical difficulties.
PEPE and FLOKI were to trade against TUSD and USDT stablecoins.
Vladislav Sopov