Markets
Cryptocurrency Trader Returns After 10 Months of Inactivity, Makes Millions During Stock Market Crash
After a continued decline in investor sentiment, the cryptocurrency market has hit rock bottom as all cryptocurrencies are facing significant price drops. Starting with the Bitcoin Price down to $56,382, altcoins are also struggling. With the drop, the selling pressure is quite high in the market as crypto traders are trying to make every possible gain. This is because of the fear of Bitcoin falling even lower, initiating a bear market-like condition. In this selling zone, Meme parts
suffered the biggest loss, with the market cap dropping by 7.76%. In such a sell-off, an inactive crypto trader also returned to the market by selling his meme coins, creating millions despite the market crash.
Cryptocurrency Trader Makes $112,000 With PEPE.
A crypto whale 0x4a2 (“dimethyltryptamine. eth”) has returned to the cryptocurrency market after ten months, trading the PEPE token to collect the remaining profits. He trades 10 billion PEPE, worth $112,000, for 32.73 ETH at a price of $0.0000112118. The crypto trader has been holding these PEPE for a long time and is among the early holders. His trading history reveals that he has been holding PEPE since April 14, 2023, right after launch.
With this, we can conclude that Pepe Coin
is losing its hype and may not recover anytime soon. The crypto trader still owns 1.99T PEPE, worth $22.35 million. These holdings offer a 59,600% increase since purchase, allowing him to make millions even in this market crash.
A Cryptocurrency Trader Holds These 5 Cryptocurrencies
Whale 0x4a2’s (“dimethyltryptamine. eth”) wallet reveals the largest holding of these five cryptocurrencies, including PEPE, WOJAG, MOG, ETH, and USDC. Of these, the largest holding is PEPE, 1.99 trillion PEPE worth $22.348 million. The second largest holding is WOJAK, which is also a meme coin, and the trader holds 711.739M WOJAK ($759.532), followed by 147.5B MOG ($238.935K), another popular meme coin. Finally, he holds 2.72 ETH ($9.813) and 6,000 USDC, a popular stablecoin worth $6,000.
The largest share of the cryptocurrency trader’s portfolio belongs to the meme currency category, which proves that the hype around them is true. This year has been quite bullish for meme currencies, and the biggest risers of the year are also meme currencies.
Continue reading What Bitcoin’s Recent Price Drop Means for Your Portfolio