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A savvy crypto trader has recently gotten significant attention with several strategic moves, netting millions in gains. As per the popular on-chain analytics platform Lookonchain, the smart whale made $7.5M in gains by dumping $WIF tokens and reinvesting in $Pnut for more profit. The analytics provider disclosed this event on its official social media account on X.
A smart whale dumped 850,000 $WIF for 15,987 $SOL($3.4M) 7 hours ago, with 50,000 $WIF($175K) left.
— Lookonchain (@lookonchain) November 15, 2024
The total profit on $WIF is ~$7.5M!
The whale also spent 3,800 $SOL($801K) to buy 1.74M $Pnut($2.87M), and currently has an unrealized profit of $2.07M($3.4M at the peak)!… pic.twitter.com/Il2pv71bnM
Clever Whale Dumps $WIF to Generate $7.5M by Timely Leveraging the Market Movements
In its latest post, Lookonchain pointed out that the whale dumped 850,000 $WIF coins for nearly 15,987 $SOL (approximately $3.4M). After the respective sale, the whale possesses 50,000 $WIF coins with a value of up to $175,000. The respective trade has resulted in a massive profit of almost $7.5M. The move denotes the whale’s potential to timely leverage the market movements. By getting benefits from $WIF’s price spike, the trader has showcased a keen eye for detecting lucrative exit opportunities.
The Whale Reinvests Gains in $Pnut to Amass Further Profits
Nonetheless, this was not the last move the whale made. Subsequently, they reinvested a few of the proceeds into the $Pnut token, spending up to 3,800 Solana ($SOL). Hence, they acquired 1.74M $Pnut coins (equaling $2.87M) with an expenditure of $801,000. The respective incident reveals that the whale utilized a calculated strategy for diversification. As a result of this, the whale efficiently capitalized on the volatile cryptocurrency market.
The decision to amass the $Pnut tokens has already delivered huge results. This whale investment has led to $2.07M in unrealized profit, with the maximum valuation touching $3.4M amid an exclusive price rally. The resilient performance of the $Pnut token as well as the significant stake by the whale could further raise the coin’s momentum in the overall market.