PEPE Whale Makes $8.13M In Profit As Bullish Rally Continues
March 11 2024 - 6:30PM
NEWSBTC
Pepe coin (PEPE) has been showing an incredible performance
alongside the rest of the crypto market. This weekend, the two
biggest cryptocurrencies, Bitcoin and Ether, displayed remarkable
price growth. BTC keeps reaching new all-time highs (ATH), and ETH
surpassed the $4,000 mark for the first time in two years.
Similarly, PEPE joined the party after hitting a new ATH over the
weekend, which prompted whales to take profit on their bags.
Related Reading: Pepe Coin Soars Over 250% – Will March Bring More
Surprises? Whale Makes Big Profits After Price Surge After its
launch in April of last year, the frog-themed coin shook the crypto
space and the memecoin market, becoming one of the most
recognizable memecoins in the sphere. Despite the big start, PEPE’s
price started fading as the market turned its eyes to competitors
like BONK and other Solana-based memecoins. However, the bull run
has propelled the market prices to heights unseen since 2022, and
PEPE has taken advantage of the bullish momentum. As reported by
the blockchain analytics platform Lookonchain, a whale made over
431% in profits in just two weeks. The address shows that the
trader withdrew over 1 trillion PEPE tokens from Binance in three
transactions before the price skyrocketed. In just 2 weeks, this
trader made $8.13M(+431%) on $PEPE! This trader deposited 196.18B
$PEPE($1.7M) to #Binance for profits 4 hours ago, with 1T
$PEPE($8.31M) left. He withdrew 1.19T $PEPE(cost ~$1.88M) from
#Binance before the price of $PEPE increased.…
pic.twitter.com/FWZgIWcCYP — Lookonchain (@lookonchain) March 10,
2024 The first transaction of 713.12 billion PEPE was made 15 days
ago when it was trading at around $0.00000138. The second
withdrawal, about 316.36 billion tokens, was done a day later when
the token price was $0.00000180. Finally, the trader withdrew 116.7
billion tokens one more time when the price was hovering around
$0.00000269. Lookonchain said these withdrawals accounted for 1.19
trillion PEPE tokens, which cost about $1.88 million. Yesterday,
the whale deposited 196.18 billion tokens back to Binance for
profits of $1.7 million. The address still has 1 trillion PEPE
left, worth around $8.13M at the time of the report. At the time of
writing, these holdings had increased by over $1 million and were
worth $9.13 million. As reported by NewsBTC, whales have profited
from their PEPE holdings since the memecoin started its resurgence
in late February. PEPE’s Massive 800% Surge Despite the volatile
crypto market and whales selling large amounts of PEPE, its
community seemingly feels confident in the frog-theme coin and
considers it THE memecoin of this bull run. $PEPE will surprise
everyone like $DOGE did in 2021. After the first Dogecoin pump in
2021, some people regretted not buying. Don't make the same mistake
in 2024 with $PEPE. This is THE meme coin of this bullrun.
pic.twitter.com/lUq213XwFQ — Tryrex (@Tryrexcrypto) March 9, 2024
Since the memecoin interest surged, Pepe coin has tagged along and
shown massive growth. In the last 14 days, the token has registered
a staggering 549% price. Even more impressively, the price has
risen 799.5% in the past month. The token has climbed to the top of
the memecoin ranking after flipping tokens like BONK and
CorgiAI. PEPE now sits as the third largest memecoin with a market
capitalization of $3.85 billion, an 8.41% increase in the last 24
hours. Similarly, its daily trading volume has increased by 16.85%
to $1.49 billion, suggesting that market activity and interest in
the memecoin have surged in the last day. At writing time, PEPE is
trading at $0,000009135. This represents an 8.5% rise in 24 hours
and a 5.95% decrease from its ATH of $0,000009793, registered two
days ago. Related Reading: Crypto Expert Says Dogecoin, Shiba Inu,
PEPE, Others Are About To Explode PEPE price performance in the
5-day chart. Source: PEPEUSDT on Tradingview.com Featured image
from X.com, Chart from Tradingview.com
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