A major whale is making waves in the $SPX market, cashing out after achieving an impressive 42x return on investment.

This savvy investor initially spent $153,000 to purchase 7.793 million $SPX tokens between July 31 and August 15, 2023. Thanks to the recent price surge, this investment has now ballooned to $6.44 million.

A whale with a $6.44M profit (42x return) is cashing out $SPX!

Notably, the whale spent just $153K to buy 7.793M $SPX between Jul 31 and Aug 15.

With the recent price surge, the whale began unloading $SPX 11 hours ago, totaling 793,092 $SPX ($687K) sold for 280.5 $ETH, leaving… pic.twitter.com/a0XNbedeMU

— Spot On Chain (@spotonchain) October 14, 2024

Just 11 hours ago, the whale began offloading their holdings, selling 793,092 $SPX tokens for 280.5 ETH, valued at $687,000. Despite this sell-off, the whale still retains 7 million $SPX tokens, worth an estimated $5.91 million.

$SPX has seen explosive growth over the past month, rocketing 100x in just 30 days. The token’s popularity is soaring, as evidenced by its expanding holder base. At the start of October, $SPX had around 6,500 holders, but within just two weeks, that number has surged past 15,000. This rapid increase highlights growing market interest and confidence in the token’s future potential.

In just 30 days, $SPX has skyrocketed with a 100x gain! At the start of October, it had 6,500 holders, and in just 14 days, that number has surged past 15,000, showing massive interest in the token.

Is $SPX the next big hero in the memecoin world?#100gems #100Xmeme pic.twitter.com/vI1ruXQ5Ls

— Fantoshi 100x (@Fantoshi100x) October 14, 2024

The whale’s decision to cash out some of their holdings at this stage reflects a prudent strategy to realize profits while still maintaining a significant position in $SPX. With the token’s rapid rise and increasing adoption, it will be interesting to see how other investors, both large and small, respond in the coming days.

As $SPX continues to attract attention from traders and whales alike, its future trajectory could offer further significant gains or corrections, depending on market dynamics and broader investor sentiment.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: jussang/123RF // Image Effects by Colorcinch

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