Unknown Whale Purchased Various Altcoins Worth Over $120 Million, Including PEPE Coin

Although the cryptocurrency market has been going up and down lately, some investors still continue to invest in altcoins that show great promise. One of these investors is an unknown “cryptocurrency whale” who purchased altcoins such as various PEPE coin worth over $120 million in the last 24 hours.

Recently, an unknown cryptocurrency whale has made a large purchase of various altcoins, totaling over $120 million in value. According to an analysis by Lookonchain, the whale's largest investments were in 40.7 million USDT, 9.425 ETH (around $30.15 million), and 957.77 billion PEPE (around $9.84 million). This was followed by 583.78 billion SHIB (around $9.68 million), 16,192 BNB (around $9 million), and 58.15 million DOGE (around $6.95 million). Balina's other investments included RNDR, MATIC, FTM, FLOKI, LINK, FET, AVAX, GRT, and more.

Despite these large investments, no significant price increase was observed in the purchased altcoins. In fact, all of the top 100 cryptocurrencies decreased in the last 24 hours, except for ZK and WLD. Bitcoin also lost approximately 3.5% in value over the same time period. This indicates that whale investments may have a limited impact on the market in the short term. However, some analysts believe that the whale's investments could have a significant effect in the long run. Some of the invested altcoins are said to have very solid projects and could potentially increase in value over time.

In another development, an unknown whale reportedly earned 1.34 million USDC by selling 8.6 million MICHI, according to a separate analysis by Lookonchain. Whale made a profit of $1.24 million by selling MICHIs at an average price of $0.1557. The whale had purchased these MICHIs between April 8 and April 15 for 578 SOL (approximately $103,000) at an average price of $0.01186. The total value of MICHI at that time was approximately $5 million.

Someone sold 8.6M $michi for 1.34M $USDC at a price of $0.1557, making a profit of $1.24M!

He spent 578 $SOL($103K) to buy 8.6M $michi at $0.01186 from Apr 8 to Apr 15, worth ~$5M at the peak.

https://t.co/rtM3uEC02W pic.twitter.com/X1q4mfEpWM

This sale shows that the whale is cashing out on its MICHI investment. However, given MICHI's recent price decline, it's up for debate how profitable the whale's long-term investment will be.

It's always important to remember that the cryptocurrency market carries a high potential for both high risk and high reward. While whale investments can influence the market in the short term, the long-term results are difficult to predict. Investors should conduct thorough research and consider the risks before making any investments.

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