A cryptocurrency whale executed a notable transaction by selling 416.8 million “cat in a dogs world” (MEW) coins. According to Lookonchain’s report dated November 29, the sale netted the whale 16,270 SOL, approximately 3.94 million dollars in profit. This transaction resulted in a profit of 1.52 million dollars for the whale, who had accumulated MEW coins through a systematic buying strategy since July 15.
Details of the Sale of 416.8 Million MEW Coins
The whale’s transaction caused significant activity in the cryptocurrency market. By selling MEW coins, the whale had a substantial impact on the supply of the altcoin. Following the sale, there were brief fluctuations in MEW’s price; however, these fluctuations did not affect the profits accrued by the whale.
The coins that the whale accumulated through a systematic buying strategy on July 15 reached significant value. This investment approach aimed to minimize price fluctuations while achieving long-term profit. The whale appears to have successfully managed the investment using this method.
Investment Success Achieved Through Systematic Buying Strategy
The whale held the MEW coins purchased for 10,000 SOL over four months. With the price increase, the whale decided to sell to maximize gains. This transaction showcased how large investors approach the market, utilizing their experience, knowledge, and strategies.
Properly timed systematic buying strategies in the cryptocurrency market enable investors to reach their targeted profits. The whale’s actions have sparked significant interest in the cryptocurrency world due to their market impact and investment success. Such transactions are closely monitored as they can serve as guidance for other investors.
Currently, MEW coin is trading at 0.009461 dollars, reflecting a 1.04% decrease in the last 24 hours. Data shows that since the whale’s sale, the altcoin’s price has entered a downward trend.
