In less than a month, Pepe Coin’s whales, which had risen in triple digits, began to take profits. Altcoin whales are changing direction after recent heavy purchases.
Pepe Coin whales pocket million-dollar earnings
Launched in mid-April, Pepe Coin rallied over 200% in a short time. In its early days, it recorded over 100% gains in just a 24-hour time frame. Moreover, it now ranks among the top 100 with a market cap of $582 million. While it led its early investors to millionaire in just one week, it now seems to be facing strong selling pressure.
Today, on-chain analytics platform Spot On-Chain shared an interesting post on Twitter about a particular Pepe (PEPE) whale who has mastered the art of buying and selling PEPE just as market conditions mature.
According to the findings, the whale traded $1.8 million worth of 925 ETH for 3,400 billion PEPE today, after achieving an astonishing return on investment of 1,650% in just two weeks. According to on-chain data, the whale first purchased 5.421 billion PEPE with just 1 ETH about 16 days ago. On April 24, the whale made its first profit by trading 21.64 billion PEPE for 3.5 ETH via Uniswap before its other big swap today.
Notably, to date, the whale has sold 3.421 billion PEPEs, representing about 0.814% of the total PEPE supply. But it still has 2,000 billion PEPEs worth $1.5 million.
More altcoin whales are abandoning Pepe Coin
There were different whales profiting from PEPE. On-chain analyst “The Data Nerd” highlighted another whale that was consistently high selling for a total realized gain of $400,000. The whale ranks 8th on the list of the largest PEPE whales. The whale currently has 4.7 trillion Pepe Coins worth about $2.7 million.
Additionally, Look on-chain spotted a whale selling 100 billion PEPE for 21 ETH. The whale made a profit of about $40,000 when the price was at $0.0000004007.
According to the analysis, the same whale had purchased 5.9 trillion PEPE four days ago when the price was at $0.0000001933. According to data from Etherscan, the whale currently has over $4 million in PEPE of $3.9 trillion.
Pepe Coin continues to rally despite selling pressure
According to CMC data, the price of PEPE has increased by 111% compared to the last 24 hours. Its gain since last week has exceeded 300%. The source of the latest rally was the announcement of popular crypto exchange OKX that it will list Pepe Coin.
cryptocoin.com We have mentioned that Pepe Coin rose at the same rate yesterday. The popular meme coin has been maintaining its rally momentum since its launch on April 17.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.