Per Onchain analytics, a notable crypto whale has encountered pronounced losses in a pair of altcoins within recent hours and has enacted a new maneuver. Intriguing activity has been discerned within the whale’s transactions, as scrutinized by cryptocurrency analysts poring over the onchain data.
Identified by Lookonchain, this cryptocurrency whale appears to have recently amassed a substantial quantity of memecoins. The data reveals that this whale, operating on the Solana network, procured $1.85 million worth of Dogwifhat (WIF) and $281,000 worth of POPCAT.
Crypto Whale Endures Substantial Setbacks on Duo of Altcoins
This same whale had previously engaged in trades, acquiring WIF valued at $2.18 million at a price of $2.98 per unit, alongside $361,000 worth of POPCAT at $0.50 per unit, three days prior.
As of the time of composing this article, the WIF token is valued at $2.54, whereas POPCAT hovers around $0.37.
In essence, the data elucidates that this crypto whale has indeed sustained considerable financial damage.
With the duo of memecoins undergoing notable depreciation, the crypto whale has incurred losses amounting to $336,000 in WIF tokens and $80,000 in POPCAT.
While WIF is traded on Binance, the globe’s preeminent cryptocurrency exchange, POPCAT remains an altcoin of relatively diminished market capitalization, available only on select, smaller cryptocurrency exchanges.