Major Cryptocurrency Whale Finally Gave Up: Sells Most Of This Altcoin At Huge Loss

Major Cryptocurrency Whale Offloads altcoin at Loss

The volatile cryptocurrency market witnessed a significant whale transaction today, with a major player selling a substantial amount of a particular altcoin, according to on-chain data provided by Lookonchain.

The whale, who had initially accumulated a large position in this altcoin at high prices, liquidated 500 billion tokens valued at approximately $5 million just minutes ago. The sale marks a significant departure for the whale, who had held 750 billion tokens worth $8.34 billion.

The latest transfer leaves the whale with 250 billion tokens, valued at around $2 million. Data indicates that the whale incurred a loss of approximately $2.3 million on the transaction.

The altcoin, once a highly sought-after meme token, has seen its popularity decline following recent controversies. Despite facing these challenges, it remains the 24th largest altcoin globally and the third-largest memecoin. It currently trades at approximately 53% below its all-time high price.

This article is for informational purposes only and should not be construed as investment advice.