Pepe Coin: Whale Nabs 8x Profit As Price Sustains Momentum To New ATH

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As a researcher with a background in cryptocurrency and blockchain analysis, I’ve been closely monitoring the recent developments surrounding Pepe Coin (PEPE). The meme coin has taken the crypto community by storm, defying all expectations and soaring to unprecedented heights. In just the past seven days, PEPE’s price has surged nearly 38%, reaching a new all-time high (ATH) of $0.00001097.

As a crypto investor, I’m thrilled to witness the remarkable surge of Pepe Coin in recent days. This frog-themed meme coin has defied market expectations, soaring to new heights and reaching unprecedented levels. In just the past week, the price of PEPE has rallied an impressive 38%, injecting a massive dose of optimism into the crypto community. With the price once again hitting a new All-Time High (ATH) of $0.00001097 yesterday, it’s clear that the bullish trend for Pepe Coin shows no signs of slowing down.

As a crypto investor following the PEPE market closely, I’ve observed some intriguing background activity. Recently, a significant player or “whale” has been making substantial profits from PEPE’s price rally. Let me walk you through the latest whale data and current market statistics for this intriguing meme coin.

Whale Makes Profit Despite Not Being Early PEPE Buyer

I, as an analyst, have discovered contrasting information to the widespread market belief that early investors and savvy buyers significantly profited from PEPE with their initial investments. A single influential investor, represented by the address 0xe7d, has accumulated a substantial fortune of approximately $13.9 million over the past three months based on data provided by Spotachain. This whale’s potential profits are rapidly approaching the $14 million threshold as PEPE continues its recent price surge.

As a researcher studying cryptocurrency transactions, I’ve come across an intriguing observation. Between December 2023 and February 2024, a significant whale investor spent the equivalent of $1.56 million in USDT to acquire approximately 1.40 trillion PEPE tokens. Following this purchase, the whale sold off 140.4 billion PEPE for roughly 1.75 million DAI when the PEPE coin reached a new all-time high (ATH) yesterday. Remarkably, this sale recovered the initial investment made by the whale. Currently, the address holds around 1.26 trillion PEPE tokens, valued at approximately $13.9 million – representing pure profit for the investor.

As a crypto investor, I’ve noticed an exciting development with Pepe coin recently. Although there have been considerable sell-offs, the token managed to reach a new all-time high (ATH) for me at $0.00001116. Impressively, despite this increased selling pressure, Pepe coin continued to surge forward.

Pepe Coin Price Rallies 10%

When composing text, PEPE‘s value in the last 24 hours showed a significant increase of 9.92%, now being exchanged for $0.00001099. The token’s trading activity surged by 91.82% in the same timeframe, reaching a volume of $3.81 billion.

As an analyst, I’ve observed a significant price rally for Pepe coin recently, which is in line with the robust uptrend of this cryptocurrency. According to Coinglass data, the open interest (OI) for PEPE has surged by 11.98%, reaching $120.11 million. Furthermore, derivatives trading volume has spiked by an impressive 24.06% to reach a substantial $2.52 billion. These figures signify escalated market activity and heightened investor interest in PEPE, which could potentially fuel the ongoing price upswing.

On the other hand, it’s important to note that the Relative Strength Index (RSI) for PEPE moved closer to overbought levels, sitting at 75. This may spark thoughts of an impending price correction or reversal among traders, despite the current bullish market indicators for PEPE.

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2024-05-15 07:46