Coin Edition -
- Analytics platform reported SmartMoney earned $3.84 million by exchanging their $SHIB for $PEPE.
- SmartMoney’s strategy was transferring their $SHIB holdings to Gate.io & KuCoin.
- Lookonchain suggests following SmartMoney’s wallet address for potential memecoin investments.
SmartMoney reportedly earned around $3.84 million from their investment in $SHIB. According to Lookonchain, as part of their investment strategy, they exchanged a portion of their $SHIB holdings for $PEPE, purchasing 325 billion units of $PEPE for $700,000. The amount of $SHIB used in the transaction was 6 billion, which had a value of $67,000.
1/ A SmartMoney that made ~$3.84M on $SHIB swapped some of his $SHIB positions for $PEPE!This SmartMoney bought 325B $PEPE($700K currently) with 6B $SHIB($67K).Very wise decision!If you want to buy the next $SHIB and $PEPE, be sure to follow this address. pic.twitter.com/WOcWdHbNiw— Lookonchain (@lookonchain) May 5, 2023
The data analytics platform called this a “wise decision.” Moreover, Lookonchain shared that in April 2021, SmartMoney purchased 133 billion units of $SHIB for a total cost of $224,000. However, on May 7 and 9, they transferred these units to Gate.io.
The platform stated that if SmartMoney was able to sell all 133 billion units at the current transfer price, they would receive $1.13 million, resulting in a profit of approximately $903,000.
$SHIB Transactions Made By SmartMoney
Meanwhile, on July 7, 2021, SmartMoney purchased 49 billion units of $SHIB from Gate.io for a total cost of $417,000. They later transferred these units to both Gate.io and KuCoin on October 28. Lookonchain said if they were to sell all 49 billion units at the current transfer price, they would receive $3.36 million, resulting in a profit of approximately $2.94 million.
Additionally, SmartMoney” purchased 49 billion units of $SHIB from both Gate.io and KuCoin on November 11, 2022, for a total cost of $475,000. They held onto these units of $SHIB until $PEPE was listed, at which point they purchased not only $PEPE but also other memecoins such as $BABYPEPE and $PEPET. The decision turned out to be profitable as they were able to find the next big thing after $SHIB, thus making a successful investment.
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