Loading...

Cryptocurrency Whale diversifies portfolio, sells PEPE tokens for $6.07 million

TL;DR

  • Whale sold PEPE, profited $3.49M, spread to SHIB, MANA, SAND, and GALA.
  • Investor diversifies crypto, aiming for gains and less risk.
  • PEPE up, SHIB down, MANA, SAND up, showing crypto’s flux.

In a significant move within the cryptocurrency market, a major whale has sold off its holding of 1.97 trillion PEPE tokens, realizing profits totaling $3.49 million. The sale, as reported by blockchain analytics firm Lookonchain, marks a strategic reallocation of funds across various cryptocurrencies, including Shiba Inu (SHIB), Decentraland (MANA), The Sandbox (SAND), and Gala (GALA).

Strategic reallocation across cryptocurrencies

The investor’s meticulous strategy involved dispersing the proceeds from the PEPE token sale into a diverse array of digital assets. Notably, 75.9 billion SHIB tokens were acquired for $893,000, followed by 1.6 million MANA tokens valued at $1.07 million, 2.43 million SAND tokens for $1.48 million, and 36.88 million GALA tokens for $1.46 million.

Capitalizing on sector opportunities

This strategic reallocation underscores the investor’s intention to capitalize on the unique opportunities presented by different sectors within the cryptocurrency landscape. From meme coins to tokens underpinning virtual worlds and decentralized gaming ecosystems, the investor’s approach reflects a keen eye for diversification and growth potential.

Mixed performance across selected cryptocurrencies

The cryptocurrencies chosen by the whale have exhibited varied performance in the market following the reallocation. PEPE, from which the funds were divested, saw a modest 3.6% increase in price, trading at $0.052738. 

In contrast, SHIB experienced an 11.3% decline, with its price at $0.00001277. MANA and SAND, integral to the virtual real estate and gaming sectors, surged by 12.7% and 8.8%, respectively. GALA, another gaming-related token, saw a 4.4% increase in value.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Share link:

Lacton Muriuki

Lacton is an experienced journalist specializing in blockchain-based technologies, including NFTs and cryptocurrency. He dabbles in daily crypto news rich with well-researched stats. He adds aesthetic appeal, adding a human face to technology.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

what crypto to buy
Cryptopolitan
Subscribe to CryptoPolitan