Meme whales make millions in profits, but what about the losers?

Blockchain analytics platform Spot On Chain has revealed that two traders made huge profits by trading Shiba Inu meme coins (SHIBAnd babyPEPE)...which once again highlights the enormous financial potential it offers and why most market players are rushing into it.

However, even in this category of digital currencies that rely on speculation (gambling), one must learn patience to make profits in the financial markets. Of course, we should not forget the nature of high risks involved in meme currencies, as the possibility of loss is much greater than the possibility of profit.

Shiba Inu SHIB deal comes to fruition after 4 years

The Spot On Chain platform report revealed: to publish Through the social media platform X (Twitter), a major investor (a whale) transferred a large amount of... SHIB piece Up to $6.94 million for two cryptocurrency exchangesGemini And Crypto.com Crypto.com “In order to make a profit.

According to the report, this trader bought 15.2 trillion SHIB piece About four years ago. Equivalent to $29.015 million (at a rate of $0.000001625 per currency).

The data showed Blockchain on which the trader made profits several times, selling 15.254 trillion SHIB piece For $72.895 million (at an average price of $0.000004779 per currency), making a net profit of $48.105 million.

Even though he sold the bulk of his SHIB coins (leaving only 2.6 trillion coins), the trader still has over $80 million in unrealized profits to make from selling the remaining coins. (Before the article was finished writing, this value dropped to 62 million in less than an hour)

The reason for the notable increase in the trader's profits, even though he owns a smaller amount of currency, is due to the significant rise in the value of SHIB that has been experienced recently.

Huge profits thanks to PEPE coin

In the same context, Spot On Chain revealed that another trader made millions in profits thanks to a rise PEPE Price the last.

Remarkably, the trader only started trading this meme-inspired cryptocurrency on March 2, purchasing $1.901 billion. PEPE part For $10.888 million (at an average price of $0.000005727 per currency).

After a short period, the trader gradually started selling these currencies until he sold them all for $14.252 million, making a net profit of $3.364 million.

Recently, reports indicated that a trader made huge profits, turning $1,800 into $11 million by purchasing... Dogwifat Coin (WIF) digital memes inspired by memes built on the Solana network.

Coins meme and make millions

When you read or watch such news on YouTube, you might feel sad for missing something. Don't worry my friend, you are not alone. This sensation is so common in the market that it even has a name It's FOMO.

And for your business, this is the main reason why most traders lose in the digital currency market. Because it pushes them to make rash decisions, after having missed the upward train.

It is true that there are dozens of success stories and millions of dollars from digital currencies, and meme currencies in particular. However, like the startup industry, most news only talks about success stories because they generate readings and views. People naturally tend towards what makes them happy.

As for the tens of thousands, even millions, of failure stories, most remain nothing more than embers in the chests of their owners. Maybe even their loved ones won't hear about it.

If you regret not having seized the opportunity and bought this or that digital currency before it increased. Who knows, maybe if I had gone in, I would have been one of those who suffer loss in silence. Statistics indicate that this is the greatest possibility anyway.