Whale Banks $3.49M from PEPE, Moves Major Stake into SHIB and Other Coins
Alex Dovbnya The investor has strategically reinvested the proceeds into a diverse mix of digital currencies, including Shiba Inu (SHIB), Decentraland (MANA), The Sandbox (SAND), and Gala (GALA) A strategic portfolio rebalanceSHIB sees a dramatic drop Cover image via www.freepik.com According to data from blockchain analytics firm Lookonchain, a major whale has sold all 1.97 trillion PEPE tokens they held for a total of $6.07 million, netting a profit of $3.49 million. The funds were then redistributed across several other cryptocurrencies, including Shiba Inu (SHIB), Decentraland (MANA), The Sandbox (SAND), and Gala (GALA).A strategic portfolio rebalanceThe whale's reallocation strategy appears meticulously calculated, with purchases spread across a spectrum of emerging and established digital currencies. Specifically, the investor acquired 75.9 billion SHIB tokens for $893,000, 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 at a cost of $1.46 million. Related This move is typical for large-scale investors to spread their bets across a variety of assets within the crypto space. In such a way, they can capitalize on the unique opportunities each coin may present.This reallocation shows the investor's approach to spreading investments across different cryptocurrency categories, from meme coins (which capitalize on social media trends and community support) to tokens that underpin virtual worlds and decentralized gaming ecosystems. SHIB sees a dramatic dropThe cryptocurrencies selected by the whale have shown mixed performance in the market. PEPE, from which the original funds were divested, has seen a 3.6% increase in price, trading at $0.052738.SHIB, now a significant part of the whale's portfolio, has experienced an 11.3% decline, with its price standing at $0.00001277.MANA and SAND, central to the virtual real estate and gaming sectors of the crypto world, have surged by 12.7% and 8.8%, respectively, showcasing the investor's focus on sectors with high growth potential. GALA, another gaming-related token, has increased by 4.4%, underscoring the investor's diversified approach towards both established and emerging market segments within the cryptocurrency ecosystem. Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. About the author Alex Dovbnya Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected]. Related articles