A major $PEPE holder has shifted their strategy by selling off a large portion of their $PEPE holdings and moving into $SPX, seeing immediate gains.
Between April 18 and May 15, the investor accumulated 81.55 billion $PEPE, worth about $800,000, and earned $120,000 in unrealized gains during that time.
However, just three hours ago, they exchanged 59.56 billion $PEPE, valued at $574,000, for 754,943 $SPX tokens, worth $684,000. Thanks to a rise in $SPX’s price, this move has increased the investor’s net worth by 16%.
A $PEPE holder dumped $PEPE and bought $SPX!
He bought 81.55B $PEPE($800K) from April 18 to May 15 and generated $120K unrealized gains.
3 hours ago, he exchanged 59.56B $PEPE($574K) for 754,943 $SPX($684K).
As $SPX rose, his net worth increased by 16%!
Address:… pic.twitter.com/bzgJG0C2r8
— Lookonchain (@lookonchain) October 12, 2024
$SPX Whale Profits As Whales From $PEPE Moves Over
While this $PEPE holder shifts to $SPX, a whale in the $SPX market has been cashing in on massive profits. This whale initially bought 19.15 million $SPX, spending only $48,400 between January 29 and March 21 on #Solana. Since then, the whale bridged all 19.15 million $SPX to #Ethereum and began selling on October 3. So far, they have sold 4.15 million $SPX for 708 $ETH, worth around $1.71 million.
A whale with 19.15M $SPX($15.7M) is selling $SPX to realize profits.
His profit on $SPX is ~$14M, a 289x return!
He spent $48.4K to buy 19.15M $SPX on #Solana between Jan 29 and Mar 21.
He then bridged all 19.15M $SPX to #Ethereum and started selling $SPX on Oct 3.
So far, he… pic.twitter.com/zLwus8gcuU
— Lookonchain (@lookonchain) October 12, 2024
Despite already selling a portion of their holdings, the whale still holds 15 million $SPX, valued at $12.3 million. With a total profit nearing $14 million—a staggering 289x return on their original investment—the whale’s strategy has proven incredibly lucrative.
These moves highlight the rapidly changing landscape of crypto investments, where large players shift capital between assets to maximize returns. The $PEPE holder’s swift transition into $SPX and the whale’s massive gains underscore the volatility and opportunity present in the market, leaving traders eager to see how these tokens perform next.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or using any service.
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