This Altcoin on Binance Soared 100 Percent Yesterday! Taking advantage of the rise, Whale started selling and the price started to decline!

While Bitcoin (BTC) and altcoins recorded tremendous rises with the rally they experienced yesterday, some altcoins attracted attention with their extraordinary rise.

One of these altcoins was BakeryToken (BAKE). At this point, BAKE, which announced that it will make a new launchpad, has increased by over 100 percent in the last 24 hours.

BAKE, which gave back almost half of this rise, continues to be among the top rising altcoins with a rise of nearly 50%.

Pointing out that the whale sale was behind this withdrawal in BAKE, Lookonchain said that the whale, which is the 3rd largest owner of BAKE, invested 4.38 million BAKE (worth $1.4 million) in Gateio.

The price of $BAKE increases 100% today, driven by @bakery_swap‘s announcement of the launchpad project on #BRC20.

A whale(the 3rd largest holder) deposited 4.38M $BAKE($1.4M) to #Gateio after the price reached highs and currently holds 19.48M $BAKE($6.25M). pic.twitter.com/fM1g91jRMA

— Lookonchain (@lookonchain) December 6, 2023

Accordingly, the whale still has 19.48 million BAKE (worth $6.25 million) after this sale.

“BAKE’s price increased by 100% today due to the announcement that Bakery_swap will make a new launchpad.

Taking advantage of this increase, a whale (BAKE’s 3rd largest owner) deposited 4.38 million BAKE (worth $1.4 million) into Gateio after the BAKE price reached its peaks.

“The whale currently has 19.48 million BAKE ($6.25 million).”

BAKE, listed on Binance, continues to trade at $0.258 at the time of writing.

*This is not investment advice.