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According to crypto onchain data, a crypto whale has made a serious fortune in PNUT, one of the most talked about memecoins of recent times.
According to data provided by Lookonchain, a major crypto whale made a profit of $56 million in PNUT tokens. Here are the details of the whale’s transactions.
This whale has apparently been trading memecoins since October 16th. He first invested heavily in another memecoin, GOAT. Interestingly, the whale’s GOAT token did not perform well and sold at a low level. However, thanks to his early action, he still has $2.78 million worth of GOAT tokens and a profit of $574,000.
In addition, this big whale made a mistake by purchasing a memecoin called FLAVIA at a high price during the FOMO period. The whale’s $1.86 million investment in this token resulted in a loss of $1.55, leaving the whale with only $303,000.
The whale wallet also bought into the FOMO that followed Elon Musk’s tweet about PNUT on November 2. The whale wallet, likely spooked by its experience with FLAVIA, invested only $15,500 in the token and then sold it immediately for a $1,500 profit.
After this stage, it is estimated that the whale did some research on PNUT. He spent $2.8 million between November 3 and November 10, making a large accumulation of PNUT tokens. The whale did not sell any profits until Binance's listing announcement on November 11.
In addition, the same whale spent $671,000 to purchase the FRED token over the last two days, making a profit of $1.24 million at the time of writing.
When the whale’s statistics are examined, it is seen that he has traded a total of 39 tokens so far, and only 9 of them have brought profit. Despite the 23% winning rate, this crypto whale has made a large amount of profit thanks to PNUT and FRED.
However, it is important to remember that memecoins are completely based on chance and involve high risk.
*This is not investment advice.