blockchainreporter.net
A $GOAT whale recently made a significant profit by trading decisively. Initially, the whale spent 602.64 $SOL to buy 10.71 million $GOAT tokens. Then, after the price moved in their favor, the whale sold 9.25 million $GOAT for 19,669 $SOL. This resulted in a massive profit of 19,067 $SOL, equivalent to around $3.2 million. According to Lookonchain, this trade delivered an impressive 32x return on investment.
A $GOAT whale is selling $GOAT for profit!
— Lookonchain (@lookonchain) October 21, 2024
This whale spent 602.64 $SOL to buy 10.71M $GOAT and sold 9.25M $GOAT for 19,669 $SOL, with a realized profit of 19,067 $SOL($3.2M) and a return of 32x.
He still holds 1.46M $GOAT($506K).https://t.co/NlX8ItvNTc pic.twitter.com/592Y19J36f
$GOAT Whale Holds 1.46M Tokens After $3.2M Profit
Notably, the whale did not dump all its $GOAT tokens. To date, he still has 1.46 million $GOAT tokens, which are worth approximately $506,000. This means that the whale has faith in the future prospects of $GOAT despite making a huge profit from the coin’s sale. As per Lookonchain, this whale still holds some $GOAT.
The Whale’s Move Signals Rising Demand for the Token
This is evident from the whale behavior because large investors have the opportunity to benefit from fluctuations in the crypto market. For this reason, it could be argued that he is able to make massive profits whenever he gets it right to purchase at optimal prices and sell at the right prices. This particular trade also takes advantage of the growing desire of people to hold $GOAT as a token that can bring massive profit.
Finally, it will also be interesting to know if the whale will hold the other $GOAT tokens or will continue to sell more. It also has implications for the market especially as other investors follow the same measure in equal account.