Recently, there was a notable action as 217 billion PEPE tokens, equivalent to around $4.54 million, were transferred to the Kraken digital currency exchange. This transaction, picked up by the tracking platform Spot On Chain, seems to indicate that a large investor, often referred to as a ‘whale’, is once again offloading their PEPE holdings.
As reported by Spot On Chain, a shrewdly strategic whale recently moved 217 billion PEPE tokens valued at approximately $4.54 million to the Kraken exchange. This action could result in a potential profit of around $767,000 or an impressive return of 20% within a span of only 17 days.
A shrewd whale transferred approximately 217 billion PEPE tokens (worth around $4.54 million) to Kraken about 5 hours ago, potentially earning a profit of over $767,000, which is a 20% increase. The whale currently possesses 1.21 trillion PEPE tokens ($25.1 million) spread across two wallets, with an additional $4.05 million in potential profits yet to be realized!
It’s worth mentioning that this same whale made significant moves earlier in the year of 2024…
— Spot On Chain (@spotonchain) January 7, 2025
Regardless of recent transactions, the whale maintains substantial ownership of PEPE, with 1.21 trillion tokens distributed across two digital wallets, currently valued at approximately $25.1 million. Moreover, there is still a potential profit of around $4.05 million on the remaining holdings yet to be realized.
It’s not the first occasion that this whale has profited from dealing in PEPE. In fact, back in 2024, it managed to earn approximately $11.39 million, which is equivalent to 57.1% profit, from its initial PEPE trade. This transaction helped establish the whale’s reputation for being adept at timing the market effectively. The capacity to generate profits from short-term trades suggests not only a knack for good market timing but also a deep comprehension of meme coin trends.
Over the past day, according to the on-chain analytics platform Santiment, PEPE is one of the cryptocurrencies being transferred to exchanges. They also highlighted significant transfers for WBTC, ENA, COMP, WLD, SPX, FTM, and PEPE in a recent tweet. Keep an eye out for these coins that are showing increased activity.
Currently, the value of PEPE is decreasing; it has dropped by 1.74% over the past 24 hours to reach $0.00002036, and it’s also down by 3.76% over the course of a week. PEPE initially increased for two days at the start of the year, peaking at $0.00002188 on January 4th, but has since started to decline.
PEPE scores new Binance listing
A notable achievement for PEPE has been marked as Binance, a leading cryptocurrency exchange, has revealed plans to introduce more JPY trading pairs, including PEPE/JPY. This decision is likely to enhance PEPE’s visibility in the Japanese market, potentially increasing trade volumes and bolstering its overall market standing.
As per Binance’s recent announcement, their aim is to expand the selection of tradeable assets on Binance Spot and elevate user trading experiences. This expansion comes with the introduction of new JPY trading pairs, set to roll out in two phases. The first phase, which includes PEPE/JPY, will be live starting January 9th at 8 a.m. UTC.
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2025-01-07 17:28