- Through memecoins it is possible to earn a million dollars with little capital.
- Lookonchain has highlighted three addresses worth following to achieve this milestone.
Blockchain analytics platform Lookonchain chose to help the cryptocurrency community stay up to date and not miss the exceptional growth of PEPE and Shiba Inu (SHIB) from listing three addresses of whales they could follow for guidance. In this short period of time, all listed smart money addresses have made millions from investing in PEPE and Shiba Inu before their rise.
Generally, Lookonchain uses its on-chain monitoring resource to help investors stay up to date with market trends and sense them on how to raise to accommodate market change.
1/ I missed it $PEPE?
We found 3 SmartMoneys that both bought $SHIB and $PEPE early and made millions of US dollars.
– 0x778c made $5.8 million $SHIB and $1.18 million onwards $PEPE.
– 0x2af8 made $3.84 million $SHIB and $1.34 million onwards $PEPE.
– cryptopolitan.eth made $2.45 million on $SHIB and $695K on $PEPE.
— Lookonchain (@lookonchain) May 6, 2023
These smart money addresses, or whales as they are commonly called, are experienced traders who understand the cryptocurrency market. They have a proven track record of successful investment decisions. Therefore, once they take advantage of a certain opportunity, other members of the crypto community are usually advised to follow suit.
Recent days have seen a significant rise in memecoins such as the cartoon-themed PEPE and the dog-themed FLOKI.
These coins have gained high percentages in such a short time that they have created excitement among the crypto community especially fast acting PEPE. As of last week, memecoin had jump by more than 2,000 percent and this contributed to its several listings on leading exchanges including Binance.
Three whales made huge profits with SHIB and PEPE
In the case of PEPE and the Shiba Inu, first address according to Etherscan, they invested $13.5K to buy 1.31 trillion SHIB assets in February 2021.
This was at the time when memecoin was selling for only $0.00000001. The portfolio later sold it for $5.81 million during the rally, accumulating a profit of $5.8 million. By April 17, 2023, this same address had purchased 396.7 billion PEPE with $9,815. The wallet later sold 116.8 billion tokens and was left with 280 billion PEPE tokens.
The second wallet also didn’t start acquiring the frog-themed tokens until less than a month ago, right before the memecoin started generating significant buzz. This address bought 558.5 billion PEPE tokens worth $286k at that time. PEPE holdings in this wallet are currently worth over $1.2 million. In the second quarter of 2023, this same portfolio purchased enough SHIB assets in April 2021 that produced a $3.84 million profit.
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On last place, third address bought SHIB at the same time as the first address and has made up to $2.45 million on his investment so far. On April 19, this address started buying PEPE and ended up with 340 billion PEPE at $103K. This address has made a profit of $695K from its PEPE holding.
A glance through these records suggests to investors that they should be on the lookout for these whales and move in the same direction they are going. Meanwhile, the frog-themed token has gained an additional 34 percent over the past 24 hours at the time of writing, while Shiba Inu is down 1 percent.
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