Crypto Whale Nets $44.3M Profit as FLOKI Surges 50%

Memecoins meme coin

In this upbeat market, driven by Bitcoin’s new all-time high, meme coins are on a continuous rise. Amidst this, a savvy whale address, 0xf63, reportedly earned millions from the Floki (FLOKI) meme coin.

According to on-chain analytics firm SpotOnChain’s post on X (formerly Twitter) on March 9, 2024, the smart whale address 0xf63 deposited 200.9 billion $FLOKI, valued at around $50.3 million, onto Gate.io. This move resulted in a whopping $44.3 million profit for the whale, marking an impressive 731% gain in just 1.5 months.


Whale’s Lucrative Portfolio: FLOKI Profits and Holdings in SHIB and BIGTIME

Currently, the whale holds a substantial amount of 1.24 trillion SHIB, valued at approximately $24.1 million, along with $11.4 million worth of BIGTIME, totaling around $5.82 million. With total unrealized profits amounting to $34.5 million, the whale’s portfolio encompasses investments in SHIB, BIGTIME, BNB, and ETH, totaling nearly $50 million.

The significant profit from FLOKI follows a recent surge in its price over the last 24 hours, with FLOKI trading near $0.0002624. Within this timeframe, FLOKI experienced a remarkable price surge of over 52%. Moreover, over a longer period, FLOKI witnessed a surge of over 170% in the last 7 days, providing holders with a notable return of around 815% over the last 30 days, equivalent to an 8X increase.

Meme Coin Surge Boosts Market Cap: FLOKI and DOGE Performance

FLOKI is not alone in its surge, as meme coins like SHIB, PEPE, WIF, and BONK have also seen significant price increases over the last 30 days. This collective rise in meme coin values contributed to an impressive 11% increase in the overall market cap in the last 24 hours, reaching approximately $60 billion.

However, the leading meme coin, Dogecoin (DOGE), has not experienced a similar surge but still maintains a strong performance compared to major cryptocurrencies. Currently trading near $0.17, DOGE witnessed a price increase of over 3% in the last 24 hours. Over the past 7 days, DOGE saw a price surge of over 20%, and in the last 30 days, it experienced a notable increase of over 110%.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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