Giant Whale Moves All Its Memecoins to the Exchange: “44 Million Dollars Profit”

A well-known investor known as “Whale 0xf63” has reportedly deposited all of his FLOKI holdings, amounting to 200.84 billion tokens ($51.82 million), to cryptocurrency exchange Gate.io. The transaction was made at a price of $0.0002504 per FLOKI token.

At the time of writing this article, FLOKI price is trading at $0.0002535.

Interestingly, this investor had withdrawn these FLOKI tokens from Gate.io and Binance on January 18, 2024 at a much lower price of $0.00003013 (estimated cost: $6.05 million). If the whale is indeed selling now, it will make an estimated profit of $44.25 million from FLOKI in about two months, a staggering 731% increase.

Despite this large FLOKI transaction, the whale's portfolio remains strong. It currently holds 1.24 trillion SHIB tokens ($45.1 million) and 11.4 million BIGTIME tokens ($5.82 million). The total unrealized profit from both of these tokens is $34.5 million.

FLOKI price has recorded a significant increase, increasing by 42.01% in the last 24 hours.

*This is not investment advice.