Trader Who Profited $6,900,000 on BONK Goes Long on Dogecoin Rival Once Again: Lookonchain

By The Daily Hodl January 11, 2024 In Dogecoin, Wrapped Bitcoin
Source: Lookonchain/X

A wealthy investor who made millions trading Bonk (BONK) is suddenly bullish again on the Dogecoin (DOGE) rival, according to on-chain data.

Blockchain tracking firm Lookonchain reports that a profitable BONK trader just purchased more than three billion BONK.

“This smart trader who made ~$6.9 million on BONK spent 386 SOL ($40,000) to buy 3.29 billion BONK again [on Tuesday]!

He accumulated 371.4B BONK in nine months at a cost of only 6,998 SOL ($276,000) and sold half of the BONK during the BONK surge for 50,139 SOL ($5.2 million).”


Source: Lookonchain/X

Bonk is trading for $0.0000138 at time of writing, up more than 13% in the last 24 hours.

Lookonchain also noticed whales making big Wrapped Bitcoin (WBTC) moves.

The analytics firm reports that one whale sold off their WBTC holdings as the price suddenly rallied, making more than $5 million.

“A whale started selling WBTC after the WBTC price increased! The whale has sold a total of 355 WBTC for 15.9 million USDT at $44,875 [this week], making ~$5.6 million!”

Source: Lookonchain/X

Another whale suddenly accumulated nearly 400 WBTC, according to Lookonchain.

“Someone is buying WBTC on chain! A whale has spent 18.25 million USDC to buy 391 WBTC [this week], with an average buying price of $46,689.”

Source: Lookonchain/X

Wrapped Bitcoin is trading for $46,234 at time of writing, more than 1% in the last 24 hours.

Generated Image: Midjourney

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