170.2 Billion PEPE Dumped by Diamond Hand Whale With Massive Profit

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As a seasoned researcher with a deep understanding of the crypto market and its intricacies, I find the recent development surrounding the mysterious PEPE whale particularly intriguing. Having spent countless hours poring over blockchain data and analyzing trends, I’ve come to appreciate the unpredictability and allure of meme coins like PEPE.

As a researcher studying crypto market trends, I came across an intriguing piece of information from a reputable source like @lookonchain. They reported about an enigmatic cryptocurrency whale, referred to as a “diamond hand” holder, who recently sold off a substantial amount of PEPE tokens just a few hours prior.

The whale had been holding onto those PEPE coins for nearly a year, and now he’s reaped significant profits from his investment in this popular meme token.

Selling billions of PEPE with huge ROI

Previously mentioned PEPE diamond holder exchanged 170.2 billion of the buzzing meme tokens for cryptocurrency at an exchange, subsequently selling them and gaining approximately $1.77 million in return. This investment yielded a remarkable 886% profit, as stated in the tweet.

At the close of October last year, this trader bought a massive amount of PEPE, which totaled 107.2 billion tokens. This transaction cost him 200,000 US Dollars. He then kept holding onto these tokens until now.

One hour ago, an individual unloaded 170.2 billion PEPE tokens for a staggering sum of 1.97 million USDC, translating to a profit of approximately $1.77 million. The initial investment was just 200,000 USDC made on October 26, 2023, resulting in an impressive return on investment (ROI) of potentially over 886%.— Lookonchain (@lookonchain) July 25, 2024

PEPE coin plummets 11%

In the past 24 hours, the buzzworthy cryptocurrency PEPE underwent a significant drop, shedding nearly 12% following a 10.76% surge on Wednesday. At present, PEPE has forfeited the $0.00001293 price level and plunged to reach $0.00001141.

Last April, PEPE suddenly appeared on the scene, developed anonymously by a team. Different from other trending meme tokens, PEPE drew inspiration not from Shiba Inus, but rather from Pepe the Frog, a widely-used meme in the digital world.

PEPE’s utility remains at zero

Several individuals have commented that PEPE lacks practical use and remains devoid of it. Yet, this meme token has garnered significant interest among short-term investors and traders. They frequently purchase PEPE and subsequently sell it after a brief holding period.

PEPE, unlike other widely-used meme cryptocurrencies such as Dogecoin, Shiba Inu, Floki, and BabyDoge, has not received any updates since its launch last year by an anonymous team. Consequently, it continues to serve as a speculative investment option for many traders in the cryptocurrency market.

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2024-07-25 18:05