Based

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2024

Subsquid

One cryptocurrency whale suffered large losses as a result of a distinctive investment strategy.&nbsp; 
Based on Lookonchain, whale purchased 520 billion tokens on May 15th. The incident caused a dispute among Crypto investors on whether it is appropriate for traders to accumulate memecoin, whose price has surged by more than 100% in less than a month. 
This strategy backfired, leading to serious losses of around 6.1 million. What’s even more perplexing is that the whale only holds a total of 10 PEPE tokens. This implies that only 5 of their tokens are currently profitable, translating to a win rate of just 50%. 
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 A whale withdrew 520B <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$PEPE</a>($5.28M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Binance</a> 30 minutes ago. It is worth noting that this whale is not smart. He bought a total of 10 tokens and never sold them. According to the current price, he lost a total of $6.1M, 5 tokens were profitable, and the win rate is 50%.… <a href="https://t.co/fC4drHO7ZP" target="_blank">pic.twitter.com/fC4drHO7ZP</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1790798480203714729?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 15, 2024</a>
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This story identifies the need to carry out research, usage of strong trading strategies, and be wary of fluctuations in the Crypto market before embarking on it. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/16/subsquid-to-launche-sqd-token-this-friday/">Subsquid to Launch SQD Token This Friday</a> 
</blockquote>

Crypto Whale’s Misstep: $6.1M Loss on PEPE

The Crypto Times

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