As a seasoned analyst with over two decades of experience in the dynamic world of finance, I’ve seen my fair share of market movements that would make even the most hardened investor’s heart skip a beat. However, the recent moves by this smart trader in the PEPE market have left me genuinely impressed.
A notable cryptocurrency trader recently transferred an astounding 121.75 billion PEPE tokens, worth about $3.22 million, into the biggest digital currency platform, Binance, stirring curiosity within the crypto community.
Based on SpotonChain’s report, it appears that a trader recently made an impressive $2.13 million from a single transaction. This substantial gain represents a significant jump of approximately 197% over the past 2.5 months.
As an analyst, I’ve noticed that about two hours ago, a shrewd investor deposited approximately 121.75 billion PEPE tokens ($3.22 million) into Binance. If the rumors are true, this move has yielded them a staggering profit of around $2.13 million (+197%) in just 2.5 months. This seems to be their second successful trade with PEPE; earlier in May, they reportedly earned an estimated profit of $1.23 million (+75.5%) from their initial investment using a… strategy.
— Spot On Chain (@spotonchain) December 9, 2024
It seems that this trader has previously scored victories with their PEPE trades, as indicated by SpotOnChain, “This instance appears to be their second triumph with PEPE.” In the month of May, they also pulled off another significant trade, reportedly earning a profit of approximately $1.23 million, which equates to a 75.5% rise, utilizing a different digital wallet.
In recent months, PEPE’s value has significantly increased, catching the attention of traders and investors who are keen on profiting from its prospects. According to Lookonchain, it appears that two digital wallets, presumably linked to a large investor, have invested 4.89 million USDC to purchase approximately 190.14 billion PEPE tokens at an average price of around $0.00002572 each.
Crypto market faces sell-off
At present, the wider cryptocurrency sector is experiencing a downturn, as Bitcoin trades just under $99,000 and has dropped by 0.39% over the past day.
Bitcoin’s price remained stagnant during a broader sell-off in the cryptocurrency market, with some traders searching for signs before this week’s Fed meeting to set their trading positions. Among the major cryptocurrencies, XRP, Dogecoin, Cardano, and Tron suffered losses of around 6%. Polygon, VeChain, Gala, and Worldcoin experienced greater declines, ranging from 7% to 11%.
Notably, PEPE experienced a growth of 2.72% over the past day, closing at $0.00002516. Moreover, it has seen a weekly increase of 24%.
Over the past week, Jerome Powell, Chair of the Federal Reserve, emphasized again that the central bank could potentially tread carefully with interest rate reductions due to the robust economy. In her comments on Friday, Loretta Mester, President of the Cleveland Fed, acknowledged the economic growth but expressed a need for more evidence that inflation is steadily moving towards the Fed’s target of 2%. She recommended that the Fed should slow down its rate cut pace.
It seems that traders are currently predicting an 85% chance of a Federal Reserve interest rate reduction during their meeting scheduled for December 17-18, which is higher compared to the previous expectation of less than a 70% chance for a rate reduction.
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- POL PREDICTION. POL cryptocurrency
- Brent Oil Forecast
- XDC PREDICTION. XDC cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
- HBOs The Last of Us Used Heavy Make-up To Cover One Characters Real-Life Injury
- EUR ZAR PREDICTION
- ZIG PREDICTION. ZIG cryptocurrency
- EUR CNY PREDICTION
- Hunter x Hunter: Togashi Reveals the Rarest Nen Type In The Series
2024-12-09 14:29