A crypto whale has gained significant attention at the beginning of the week with a notable profit in $PUMP token. In this respect, the whale AA21BS has gained a $3.86M in profit in the $PUMP token after its sheer rally. As per the data from the on-chain analytics provider, Lookonchain, this development has occurred due to the spike in Solana ($SOL). Hence, this development indicates a crucial development, raising wide-scale investor interest in $PUMP.
Whale Pockets $3.86M in Profit in $PUMP after Surge Driven by $SOL
In line with the new market data, on Monday, the whale AA21BS gained a profit of $3.86Ms in $PUMP token as it surged due to Solana ($SOL) price rise. In this respect, the investor initially utilized $1M $USDC tokens to purchase 250M $PUMP tokens during public sale. Following that, the whale added 962.38M additional tokens by spending $5.16M at $0.005363 as the average price.
Keeping this in view, over the past 5 days, the whale has offloaded up to 1B $PUMP token in exchange for $8.25M at $0.008225 as the average price. After that, the whale still holds up to 208.83M $PUMP tokens with an approximate value of nearly $1.77M. The market data indicate that the whale may be utilizing automated trading instruments for the optimization of entries and exits during price volatility.
$PUMP’s High Volatility and Whale Dependence Raise Questions about Long-Term Sustainability
According to Lookonchain, the whale AA21BS’s $3.86M profit in $PUMP, led by price surge of $SOL coin, has renewed speculation regarding the token’s long-term viability. Hence, the whale’s capability to overcome the significant losses and gain multimillion-dollar gains may inspire other big holders to leverage such opportunities. However, at the same time, the volatility of the $PUMP token and dependence on whale activity ignite concerns regarding its sustainability.
