While the cryptocurrency market is in a general upward wave today, it was noteworthy that a whale made a large amount of profit from a popular memecoin.
According to Onchain data, a giant PEPE whale deposited a large amount of PEPE tokens to Binance. Although it is not possible to determine with certainty whether the deposit is for sale or not, considering that the whale has been storing its tokens in a cold wallet for a long time, it is highly likely that this transaction is for sale.
The PEPE whale in question purchased 365.96 billion tokens on the cryptocurrency exchange MEXC on December 13 and 16, 2023, which corresponded to 494 thousand dollars at that time.
Balina wallet transferred the same amount of PEPE tokens to Binance in its deposit today. This time the value of the tokens was $5.3 million. In other words, the whale wallet turned 494 thousand dollars into 5.3 million dollars in less than 6 months.
The total profit amount of Balina wallet was 4.82 million dollars and the profit rate was 976%.
Although the PEPE price has fallen by approximately 8% in the last week, it has seen an impressive rise of 65% in the last month.
*This is not investment advice.
Read the full article here
