As a seasoned crypto investor with years of experience under my belt, I’ve seen my fair share of market volatility and whale activity. Today’s news of a major PEPE whale selling off 700 billion tokens ($7.8 million) is a clear indication that even the biggest players in this game are not immune to losses.
As a crypto investor following the PEPE market closely, I’ve come across intriguing news from Lookonchain, a reputable blockchain analytics platform. According to their data, a significant PEPE token holder, referred to as a “whale,” made a sizable deposit today. This whale transferred an impressive 700 billion PEPE tokens ($7.8 million) to Binance for further actions.
The whale currently has $9.23 million worth of PEPE left after taking a loss of $3.5 million.
As a researcher investigating the current market situation, I can share that at the moment of writing this, PEPE cryptocurrency is priced at $0.00001197 following a 10% increase within the previous 24 hours. Yet, it’s essential to note that over the past month, PEPE has experienced a decline of approximately 21%.
In the present moment, the meme coin market is thriving as Bitcoin undergoes a rebound. Notably, Dogewhats (WIF) and Bonk (BONK) are spearheading the revival, with each recording daily growth of nearly 20%.
As a crypto investor, I’ve experienced some significant losses before, and I can empathize with someone who recently lost a substantial amount – in this case, $4.6 million on the WIF token. However, what’s intriguing is that, according to Lookonchain, this whale decided to buy back the same token at a higher price. This move could be seen as a sign of confidence or even a belief that the market will rebound, but it’s essential for any investor to consider their risk tolerance and investment strategy carefully before making such decisions.
Noting the significant decline, WIF has dropped a substantial 61% from its previous record high of $4.83 on March 31. This places it among the poorest performers within the meme coin category, as PEPE experiences a decrease of only 32% from its peak on March 27.
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2024-06-25 11:03