Investors have kept close tabs on smart whale addresses that played a major role in the meteoric rise of both Shiba Inu (SHIB) and PEPE tokens. Data from Lookonchain, an on-chain surveillance resource, estimates that 3 such addresses have made millions in profits from investing in the said tokens right before their respective bull runs. These 3 addresses purchased SHIB and PEPE early in 2021 and sold the tokens during their respective surges.
For instance, one of the addresses purchased 1.31 trillion SHIB with $13.5K in February 2021 when SHIB was worth $0.00000001. The address eventually sold the tokens for $5.81 million amid the bull run and made over $5.8 million in profits. Similarly, the address purchased 396.7 billion PEPE with $9,815 on April 17 and later sold 116.8 billion tokens for $392K. It now holds 280 billion PEPE, with $1.18 million in realized and unrealized profits.
The second address, on the other hand, procured Shiba Inu as early as April 2021 and yielded a total of $3.84 million in profits from its SHIB investment. It also bought 558.5 billion PEPE tokens with $286K on April 19 and now has an unrealized profit of $1.34 million on PEPE. Lastly, the third address procured SHIB in February and consequently made $2.45 million in profits. The address later bought 340 billion PEPE with $103K on April 19 and has now secured a profit of $695K on the PEPE investment.
It is pertinent to note that, as of writing, Shiba Inu is trading at $0.0000097 after plummeting below the support level at $0.00001. The asset is striving to regain this price zone in order to avoid a further drop. On the other hand, PEPE is presently trading for $0.00000311, up 34% in the past 24 hours.
Both PEPE and SHIB are currently some of the trending altcoins in the crypto space and have experienced some noteworthy bull runs since their launch. Hence, the smart money addresses cited by Lookonchain are a useful resource for investors who wish to gain some insight into the crypto whales’ trading patterns and make well-informed decisions for their investment portfolios.
Melanie Lee
- 2023-05-06
Smart Money Addresses Profit From SHIB and PEPE
Lookonchain, an on-chain surveillance resource, estimates that 3 smart whale addresses made millions in profits from investing in Shiba Inu (SHIB) and PEPE tokens during their respective bull runs. Get insight into their investment patterns to make well-informed decisions.
