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- ✈️ Gate Square | Gate Travel Sharing Event is Ongoing!
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#GateTransparencyReport# - 📢 Gate Square Exclusive: #PUBLIC Creative Contest# Is Now Live!
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Meme Coin Whale on Solana Has Been Waiting Since July: Earned 1.5 Million Dollars - Coin Bulletin
Another notable transaction has occurred in the cryptocurrency world. According to Lookonchain data, a whale made a significant profit by selling a total of 416.8 million MEW tokens for 16,270 SOL (approximately 3.94 million dollars).
In this transaction, the whale made a net profit of 6,270 SOL (1.52 million dollars).
The whale in question had bought 416.8 million MEW by spending 10,000 SOL (approximately 2.42 million dollars) on July 15th. The investor who conducted the purchase transaction with the Dollar Cost Averaging (DCA) strategy achieved a significant investment success with careful planning and timing.
Dynamics behind the DCA strategy and profit
Balin's accumulation of MEW tokens using the DCA strategy aims to reduce risks in volatile market conditions and balance the cost average. The strategy, combined with the recent rise in MEW price, appears to have provided significant returns to Balin.
These kinds of large transactions serve as an important example for understanding how large investors (whales) affect the market and their strategic approaches. The effects of this sale on the MEW price are closely monitored by investors.