- A whale splashed more than $13 million on Meme coin investments.
- But the crypto whale lost over 59 %of the trades and made profits in only 7 out of 17.
Just as crypto whales make profits, they can also make massive losses. In fact, the losses they make in the market are usually larger since they invest huge amounts of money in tokens. Here’s how this crypto whale lost millions.
Crypto Whale Spent Massive Amount on Memecoins Spent Massive Amount on Memecoins
- A crypto whale spent a massive amount of money buying up some meme coins. However, it didn’t go quite as planned, and he ended up making more losses than profits. A look at his portfolio shows the crypto whale spent over $13 million on these meme coins. However, the amount of losses he made compared to profits is larger.
- The whale has spent about 7,626 Ethereum ($13.44 million) buying 17 different tokens, mainly meme coins. Nevertheless, his win rate was only around 41%, showing a bad investment strategy.
- More details show the crypto whale’s largest purchase was 2.6 million OLAS tokens, which cost 1,784 ETH ($2.96 million). So, this means that at the time of making those investments, it was worth $2.96 million. But this crypto whale is currently at a loss. The price of this token dropped, making him lose more than $620,000.
Other Major Investments By Crypto Whale
- This crypto whale made two other major investments within this timeframe. However, only one of them made a profit. This whale bought 23.36 million RLB tokens for 1,430 ETH ($2.62 million) and sold them all for 2,013 ETH. But he didn’t take time before selling them for 2,013 ETH, making a profit of 583 ETH ($758,000). Apparently, this is the largest profit he ever made from these trades.
- The next token was UNIBOT. This UNIBOT token, linked with Uniswap, is an upcoming token that finds its utility as an automatic market maker. So, this crypto whale used 1,360 ETH ($2.53 million) to buy 17.6k UNIBOT tokens at $144 each. But this whale sold off these tokens at $133 each. This made the whale to have a loss of more than $165,000. Besides this, there were many other minor investments from this whale.
Minor Investment From Whale
- Many of the smaller investments this crypto whale made resulted in massive losses. On HarryPotterObamaSonic10Inu, the whale Spent $2.5 million, made a profit of $400,000.
- However, the whale bought ATOR: Spent $808,000, lost $100,000. Bought MOG of $768,000, lost $207,000.
- Bought Hilo for $514,000, lost $156,000. So, the whale went further and bought BAD for $508,000 and lost $156,000.
- Bought Dubbaz at $290,000 and made a $68,000 profit. Furthermore, spent $116,000 on MEVFree, and lost $18,000.
- SAINT: Spent $82,000, made a profit of $22,000. Finally, the whale bought BBANK at $51,000 and lost $11,000.
- Wrapping up, one can see the series of bad investments made by this whale. Apparently, it shows how much one can lose by investing in meme coins in the bear market.
