According to Odaily, a whale address has reportedly converted all of its 206 million MEW into 55.8 million GME. This transaction occurred approximately nine hours ago, as monitored by Lookonchain.
The same address had previously purchased the 206 million MEW on April 2nd and 3rd, spending 9,556 SOL, equivalent to about 1.76 million USD, at a price of 0.008544 USD per MEW. However, after incurring a loss of 1.06 million USD, the address decided to convert all its MEW into GME.
The move by the whale address is significant in the cryptocurrency market, as it indicates a shift in investment strategy. However, the reasons behind this decision remain unclear. It is also unknown whether this will have any significant impact on the value of MEW or GME in the future.
