Massive Pepe Whale Transfers $15.6 Million Worth of Tokens to Binance Exchange
Pepe cryptocurrency has been making headlines in the crypto world lately, and for good reasons. Lookonchain, a crypto analytics platform, reported a massive purchase of PEPE tokens by a giant whale investor who deposited all of the purchased tokens to Binance exchange. The tweet by Lookonchain stated that the whale bought 4.23T PEPE tokens, which is equivalent to $15.6 million, using 422 ETH and 200K USDC.
This giant whale who bought 4.23T $PEPE ($15.6M) with 422 $ETH ($871K) and 200K $USDC deposited all $PEPE to #Binance 30 mins ago.
His average buying cost is $0.0000002535, and the profit is ~$14.5M now!
He may sell after opening trading, watching out for the price change.⚠️ pic.twitter.com/7UoNYG9PJb
— Lookonchain (@lookonchain) May 5, 2023
The whale’s average buying cost was at an incredibly low $0.0000002535, and the profit margin is currently around $14.5 million. However, despite the impressive gains, the tweet advised the investor to watch out for the price change and sell after opening trading.
Pepe, a meme-inspired cryptocurrency, has been enjoying significant growth in value, as per data sourced from CoinGecko. In just seven days, the token has surged by an impressive over 10005%, taking its market cap to over $1.56 billion. With its current ranking at 40, Pepe has been attracting significant attention from investors and traders.
However, there is still anxiety surrounding the speculative nature of the token, and investors are advised to tread with caution. At the time of writing this article, Pepe was trading at $0.00000372, showing a slight increase in price from its previous day’s trading.
The influx of investment and attention towards Pepe’s cryptocurrency indicates a shift in the market towards meme-inspired tokens. However, as with all investments, it is important to do thorough research before investing, and to keep a close eye on the market trends to avoid potential losses.
Read more:
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