Crypto Whale Spends $10.4 Million On PEPE, Do They Know Something You Don’t?
06 Mayo 2024 - 12:30PM
NEWSBTC
A crypto whale’s transaction involving the third-largest meme coin
by market cap, PEPE, has drawn the crypto community’s attention.
The magnitude of the transaction, coupled with some other whale
transactions, suggests that it may be high time to pay more
attention to PEPE. Crypto Whale Spends $10.4 Million On PEPE
On-chain analytics platform Spotonchain revealed a wallet
(3eAaAC3C9) that had purchased 1.238 trillion PEPE from Binance at
an average price of $0.000008424 ($10.4 million). This wallet then
proceeded to withdraw the tokens in two transactions. On-chain data
shows that the whale withdrew 322.5 billion PEPE in the first
transaction and the remaining 915.85 billion PEPE in the second
transaction. Related Reading: Bitcoin Relative Strength Jumps
To 40%: 10x Research Reveals Next Steps From Here At the time of
writing, the whale hasn’t moved the tokens, suggesting they may be
looking to hold for the long term. Some notable smart traders look
to have been accumulating the meme coin lately, most likely in
anticipation of significant price moves from it. Spotonchain also
recently revealed two whales that had withdrawn 660.7 billion PEPE
from Binance and MEXC. The platform also mentioned another
whale that withdrew 322.48 billion PEPE ($2.68 million) from
Binance for the first time. More recently, Spotonchain drew the
crypto community’s attention to a smart trader who has been
profiting from the meme coin since last year. This trader is said
to have completed 8 trades and realized a cumulative profit of
$917,000. Seeing how PEPE has performed since the start of
the year, these whales’ interest in the meme coin isn’t surprising.
Data from CoinMarketCap shows that PEPE has made a year-to-date
(YTD) gain of over 500%, and this bullish momentum looks to be far
from over. Interestingly, many traders have yet to jump on the the
wave, as just over 200,000 persons hold the meme coin. Price
To Hit New All-time High (ATH) Soon Crypto analyst Plazma recently
suggested that PEPE could soon hit a new all-time high. PEPE’s
current ATH is at $0.00001074, with the meme coin trading just 20%
below this price level. Crypto analyst Yazan also hinted that meme
coin would soon hit a new all-time high, asking his followers if
they were ready for this to happen. Related Reading: Cardano
Comeback: Analyst Reveals Why It’s Time To Get Back Into ADA PEPE
is currently ranked as the thirtieth largest crypto token by market
cap and is likely to climb higher if it eventually hits a new ATH.
Crypto analyst and trader Murad believes that the meme coin could
rise to the top 10 crypto tokens by market cap since he predicted
that PEPE could flip Shiba Inu (SHIB) and possibly Dogecoin (DOGE).
At the time of writing, the meme coin is trading at around
$0.000008615, down in the last 24 hours, according to data from
CoinMarketCap. Token price drops to $0.0000084 |
Source: PEPEUSDT on Tradingview.com Featured image from Gemini,
chart from Tradingview.com
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