One cryptocurrency whale suffered large losses as a result of a distinctive investment strategy.
Based on Lookonchain, whale purchased 520 billion tokens on May 15th. The incident caused a dispute among Crypto investors on whether it is appropriate for traders to accumulate memecoin, whose price has surged by more than 100% in less than a month.
This strategy backfired, leading to serious losses of around 6.1 million. What’s even more perplexing is that the whale only holds a total of 10 PEPE tokens. This implies that only 5 of their tokens are currently profitable, translating to a win rate of just 50%.
This story identifies the need to carry out research, usage of strong trading strategies, and be wary of fluctuations in the Crypto market before embarking on it.
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