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Crypto Whale Bags $4.9M in Profit with Solana’s AI Meme Coin
In a stunning display of crypto market volatility and the potential for rapid gains, a prominent whale has made off with an astonishing profit of $4.9 million within just two weeks using Swarms, an AI-driven meme coin on Solana.
According to data from blockchain analytics platform Lookonchain, this whale initially invested $458,000 in purchasing 20 million Swarm tokens. A mere 14 days later, the investor has turned a tidy profit by selling 5 million of their holdings for a whopping $1.35 million in Solana’s native token, SOL.
This remarkable profit highlights the growing interest and potential for high returns on Solana-based meme coins like Swarms. While Swarm tokens have experienced an impressive 80% surge over the past month, they have unfortunately taken a sharp 21% hit in the last 24 hours, emphasizing the inherent unpredictability of meme coins.
Currently trading at around $0.2829 per token, Swarm’s market capitalization sits at approximately $282 million. This recent downturn raises concerns among investors, particularly given the significant sell-off by this whale.
The meteoric rise and fall of Swarm tokens serves as a stark reminder of the immense risks involved in crypto investing. While opportunities for massive gains may exist, the potential for catastrophic losses is ever-present.
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Source: coinpedia.org
