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Lucky Whale Spent $6,500 to Buy This Altcoin and Turned It Into $5.6 Million with 870x Profit

source-logo  en.bitcoinsistemi.com 09 May 2024 20:03, UTC

According to the incident noticed by the analysts of the cryptocurrency analysis company Lookonchain, a crypto wallet managed to turn an extremely low capital into a fortune with great luck.

Wallet address waxl.eth purchased $6,500 worth of TRUMP tokens and sold them for $5.6 million for an 870x profit.

According to Onchain data, the waxl.eth wallet purchased the 2.08 million TRUMP tokens by paying $6,500 with two different wallets. Then he sold TRUMP, worth $1.24 million, for $902,000. However, the lucky whale still has 832 thousand TRUMP in his wallet, and their value is around 4.7 million dollars at the time of writing.

To make the incident even more interesting, the same wallet in question managed to reach high amounts in the altcoin named BasedAI (BASEDAI) almost simultaneously, using a very small principal amount. According to the data, the wallet purchased 249 thousand BasedAI by spending 4 thousand dollars. Then he sold 19,500 of them for 137 thousand dollars. Currently, the whale has 238 thousand BASEDAIs and their value is around 1.1 million dollars.

However, it should not be forgotten that memecoins, especially those used by the whale, are extremely risky assets and many more users lose money in these coins than winning users.

*This is not investment advice.