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Although its $PEPE investment is currently yielding massive returns, this whale lost $79K on its Shiba Inu trade two years back.
A mysterious whale who previously purchased over 195 billion Shiba Inu ($SHIB) tokens during the buzz surrounding the $SHIB bull run in 2021 has made another bet on $PEPE as the recently-launched meme coin’s social activity skyrockets. Unlike his $SHIB trades, this whale currently sees an unrealized profit of $864K+ on his $PEPE investment.
The unidentified address was highlighted by Lookonchain, a blockchain surveillance system, in a recent tweet. Although Lookonchain noted that it purchased 1.23 trillion $PEPE tokens with 250 $ETH ($476K), on-chain data suggests that the whale currently holds a balance of 1.299 trillion $PEPE.
A whale bought 1.23T $PEPE with 250 $ETH ($476K), the average buying price is $0.000000366.
This whale also traded $SHB before but lost about 25 $ETH ($79K at that time).https://t.co/IFBqFRNqm1 pic.twitter.com/ibV5CaFqol
— Lookonchain (@lookonchain) April 30, 2023
Data from Etherscan reveals that the whale address swapped the 250 $ETH for 1.299 trillion $PEPE in three uneven swap transactions from April 20 to April 30. Its $PEPE holdings are now worth $1.34 million, resulting in an unrealized profit of $864,000. The whale is now the 32nd largest $PEPE holder.
Launched in April, $PEPE has sparked the next revolution of meme coin buzz with its meteoric rise in a few weeks. As disclosed by The Crypto Basic, the asset recently entered the top 110 list of largest assets by market cap on CoinGecko following a 24-hour surge of 85%. Several traders have made thousands in profits from the asset, including this whale address in question.
Shiba Inu Investment
As earlier highlighted, this whale also jumped on the Shiba Inu buzz in 2021 amid the asset’s astronomical surge that year. This whale procured 195.79 billion $SHIB in two uneven swaps on October 11, 2021; however, following a series of swaps, the address lost 25 $ETH (valued at $79K).
The address now holds 0.00002492 $SHIB, having emptied his balance in the token. Shiba Inu is trading for $0.000001003, down 88.64% from its $ATH. Meanwhile, $PEPE is changing hands at $0.00000104, up 93% in the past 24 hours. $PEPE is now ranked 100 on CoinGecko’s list of largest assets.
Despite the prevalent buzz surrounding $PEPE, the asset has still not caught up to Shiba Inu’s 2021 rally. Though $SHIB is down 88% from its $ATH, it is still up 17,846,665% from the all-time low of $0.000000000056366 on Nov. 28, 2020.