A whale investor who spent 25,682 $SOL ($5M) to purchase 1.7M $WIF at $2.94 on March 17 has started selling their $WIF holdings at a loss last night. The decision to sell comes after the price of $WIF dropped since the initial investment, according to Lookonchain.
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Meme Coin Trader is Shifting Investments to $TREMP and $BONK
The whale has been exchanging their $WIF for $TREMP and $BONK. So far, they have exchanged 1.28M $WIF ($3.3M) for 127.16B $BONK at a price of $0.00002593 per $BONK.
Additionally, the whale has exchanged 410,688 $WIF ($1.06M) for 966K $TREMP at a price of $1.1 per $TREMP.
The whale’s decision to invest in $TREMP and $BONK has caused an increase in the prices of both cryptocurrencies. As the whale continues to sell their $WIF holdings and invest in these alternative coins, the market is responding positively to the increased demand.
Whale’s Recent Losses
On May 18, it was reported that another whale investor sold 732,481 $WIF ($1.85M) and 716,344 $POPCAT ($281K) at a loss. The whale had purchased these holdings just 3 days prior, with 732,481 $WIF bought at $2.98 ($2.18M) and 716,344 $POPCAT at $0.5 ($361K). As a result of the price fluctuations, the whale lost $336K on their $WIF investment and $80K on their $POPCAT investment within a short span of 3 days.
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Show more +The recent activities of this whale investor have showcased that in the meme coin sectors, traders like to diversify their portfolios, and sometimes, move out of their current positions even though they are in a loss. Despite the initial losses on $WIF and $POPCAT investments, the whale has shifted their focus to $TREMP and $BONK, causing a notable increase in the prices of these coins.
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