Whales closely monitoring news feeds and investor trends can make highly profitable trades. Today’s latest move shows the massive profit a whale achieved by taking steps at the right time. So, what happened to generate such profit? What awaits investors?
Roaring Kitty and the Crypto Whale
Roaring Kitty forgot the days he sweated before Congress members in 2021 and re-emerged with the excitement of the crypto bull. Years ago, the YouTuber organized individual investors for GameStop and made significant gains and is now on the verge of another attempt. Today, he opened his first live broadcast in years. Everyone expected an increase in GameStop shares, and it happened.
However, GME shares were not the only thing that gained value. The meme coin named GameStop (GME), launched on the Solana network, also saw a significant increase during this period. The token launched for the meme became almost like the crypto version of GME shares but has no relation to the company.
This issue, which has occupied the agenda for days, brought significant gains to a whale who took steps at the right time. Lookonchain tracked the whale’s movements and wrote:
“This guy spent 12,110 $SOL (2 million $) to buy 135 million $GME in a single transaction and sold 118 million $GME at $0.01975 for $2.33 million!
He currently has 16.94 million $GME (288 thousand $) left, with a total profit of 618 thousand $.
However, his profit in $GME was over 2 million dollars at its peak!”
GME Coin Commentary
The live broadcast ended a few minutes ago. However, there is potential for this action to continue in the coming days. On the Robinhood platform, there might be new live broadcasts or other steps to rewrite the speculative rise story, considering the possibility of GME moving outside trading hours.
So, what are the predictions for the meme coin GME Token? The price increased by 765% in 4 days. It dropped by about 55% in 9 hours. If the $0.01394 level works as support, we might see new attempts towards $0.024591 and $0.03155. However, whale sales suggest that the excitement may be starting to fade. If the decline continues, the targets could be $0.01411 and $0.008591. In the event of excessive sales, the dead price target will be $0.003930. Below this, there is a risk of the return possibility approaching zero.
