Date: Thu, Oct 10, 2024, 05:35 AM GMT
The cryptocurrency market has seen its share of ups and downs this month, with Bitcoin (BTC) volatility impacting major altcoins and memecoins alike. However, one token has defied the broader trends—Popcat (POPCAT), based on the Solana blockchain, has delivered remarkable gains despite the choppy market.
On October 4th, POPCAT broke through its resistance level of $1.07, soaring to a new all-time high of $1.4876. This marked an impressive 40% surge. However, after hitting this peak, POPCAT experienced a correction, dropping by near 20% to its current price of $1.20.
Whale Makes $4.84M
Amidst this price action, a smart whale trader took advantage of the volatility, making substantial profits. According to Lookonchain monitoring, this whale sold 3.13 million POPCAT tokens for $3.65 million at a price of $1.16 in the past 24 hours. This sale netted the trader a total profit of $3.37 million in just one month!
Remarkably, this isn’t the whale’s first big win. Previously, they had already made $1.47 million on POPCAT, bringing their total profit from the token to a staggering $4.84 million.
What’s next for the whale? After cashing out on POPCAT, the whale bridged 3.65 million USDC to Ethereum and bought 6.56 million SPX tokens (worth $3.9 million) at an average price of $0.56. All eyes are now on the trader to see how they will take profits on SPX6900 (SPX).
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