As a seasoned crypto investor with a decade of experience under my belt, I’ve seen it all – from bull runs to bear markets, and everything in between. The recent PEPE saga is a perfect example of how the crypto world can be unpredictable yet captivating.
On the social media platform known as X, formerly Twitter, the analytics account @spotonchain shared news about a massive whale selling approximately half a trillion PEPE meme tokens on the prominent cryptocurrency exchange, Coinbase.
Before that incident, another whale deposited a relatively larger amount of PEPE token onto Binance, the leading trading platform. Currently, PEPE has climbed up to the 15th position on CoinMarketCap’s ranking and peaked at $0.00002524 just 11 hours ago, setting a new all-time high.
Whales unload over trillion PEPE
Earlier today, a source previously discussed revealed that a whale sold 526.2 billion PEPE tokens worth around $10 million on Binance. These tokens had been held for a week prior. The sale generated approximately $5 million in profit. This significant transaction followed Coinbase’s announcement of listing not only PEPE, but also Dogwifhat (WIF). Both coins experienced substantial price increases following this announcement.
After that, another whale moved over 500 billion PEPE tokens, equivalent to $11.73 million, to Coinbase. This individual had been holding onto the PEPE since the year 2023, as they had purchased it between May 5th and September 10th for a total of 1,170 ETH, which at that time was worth approximately $2.12 million.
A massive whale has recently added another $11.73M worth of PEPE tokens to Coinbase, boosting its profits to approximately $43M!
From May 5 to Sep 10, 2023, this whale amassed a total of 2.01T PEPE tokens by investing 1.17K ETH (approximately $2.12M). Currently, it continues to hold 1.48T PEPE tokens ($33.2M), which were farmed using Sophon.
Calculated total profit: $43M (approx. 20x their initial investment)
— Spot On Chain (@spotonchain) November 14, 2024
Lately, PEPE has found its way onto several prominent platforms for cryptocurrency trading. This includes Coinbase, Robinhood, and Upbit – which is the largest such platform in South Korea.
Due to recent developments, PEPE reached an unprecedented peak in value. Over the last day, this unique cryptocurrency saw a staggering increase of 101%, moving from $0.00001286. However, it has since experienced a dip of 16.08% and is currently being traded at $0.00002174.
PEPE, DOGE, WIF, BONK skyrocket
Based on a recent report from data platform Santiment, PEPE is among the top three meme cryptocurrencies that have yielded the highest returns over the past week. Notably, PEPE has seen the most significant increase, as previously mentioned, followed by Dogecoin with a 96% return.
As an analyst, I’ve observed a significant surge: Dogwifhat saw a 67% jump, mirrored by Bonk (BONK) also climbing by 67%. Santiment’s insights suggest that this trend might stem from ‘greed and emotional trading,’ which historically has been a telltale sign when meme coins gain prominence in the market. Therefore, Santiment advises us to approach these meme-centric cryptocurrency discussions with caution across platforms like Reddit, Telegram, 4Chan, and BitcoinTalk.
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2024-11-14 18:59