blockchainreporter.net
A prominent crypto whale, going by “@degentradingLDS” on X, has gained a significant profit of $4.81M after depositing 254.65B $PEPE coins (nearly $5.15M) to Binance. As per Spot On Chain, a well-known on-chain analytics firm, this substantial profit indicates the significance of a timed strategy to leverage the meme token trading. The analytics platform provided the details of this event on social media.
Crypto whale @degentradingLSD deposited 254.65B $PEPE ($5.15M) to #Binance for a big $4.81M profit 13 hours ago!
— Spot On Chain (@spotonchain) November 26, 2024
Currently, this whale holds:
• 430B $PEPE ($8.13M) with another unrealized profit of $7.74M (13x return);
• 3.96M $DOGE ($1.6M) with an unrealized profit of $1.5M… pic.twitter.com/OCRcwjvGsQ
Crypto Whale Leverages $PEPE to Generate $4.81M While Still Retaining a Strong Portfolio
Spot On Chain mentioned that the whale’s considerable profit of $4.81M from $PEPE has grasped the attention of the crypto community. Irrespective of liquidating a part of the $PEPE holdings thereof, the whale still owns a strong status in the popular meme token. The portfolio of the whale currently includes 430B $PEPE tokens with a value of $8.13M, with $7.74M in unrealized profit. This represents a remarkable 13x return on their investment.
In addition to this, the whale’s portfolio also includes 3.96M $DOGE coins with a value of $1.6M. This has yielded an unrealized profit of approximately $1.5M, signifying a 15x return. Moreover, the whale also has 2.5M $LDO coins that are currently valued at $4.12M. Nonetheless, this status mirrors an unrealized profit of 9.5%, accounting for a $432,000 downturn. Irrespective of the loss, the whale has consistent confidence in the $LDO coin’s long-term potential.
The Capital Appears to Flow from $PEPE to $DOGE and $LDO
Based on the recent market trends, a noteworthy shift has occurred in the fund distribution by whales, including @degentradingLSD. According to Spot On Chain, during the last few days, meme tokens like $PEPE are seeing a capital outflow to the top altcoins. They take into account $DOGE and $LDO. The respective shift may highlight a wider market sentiment. Hence, the traders are potentially diversifying into assets with likely resilient fundamentals or value propositions based on utility.