2023-05-27 11:12:00
A whale loses $147,000 worth of Ethereum on memes
Crypto is full of stories related to specific investors. They made fortunes from their investments in more speculative assets such as cryptocurrency memes. These examples tend to attract jealousy as well as some resentment from less fortunate market participants.
Today, however, we will take a look at the other side of these coins.
A few years ago, it was. Then it was Ino. This year, at least for now. The massive explosion of meme coins came from .
Shortly following its launch in April. Multiple stories regarding millionaires popped up overnight. Including this story. In it, a savvy investor turned $27 into a million following taking advantage of the PEPE craze.
However, life is not always happy and beautiful. Lookonchain has shared data regarding an NFT whale that hasn’t had all that success when investing in memes.
According to the on-chain analytics provider. Said whale has lost a total of $147,000 in ETH so far this month on various memes.
Perhaps the most painful thing is that some of them. Such as TURBO and BEN – up to 85x higher following whales sold their stakes.
The PSYOP controversy has also affected Pisces. They sent 5 ETH to ben.eth, which might be a blatant scam. According to ZachXBT, they have received 8.9 million PSYOPs. However, Pisces “might feel cheated,” and they sold everything without loss or profit.
However, PSYOP, despite being an alleged scam. It jumped 5 times following the whale sold its position. Perhaps the whale felt some kind of fear, he “spent 60 ETH to buy PSYOP and sold it following 10 minutes without any loss or profit.” Perhaps he was worried regarding being scammed once more.”
Crypto Horizon
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