Pepe Whale’s $1.14M Sell-Off Shakes Meme Coin Market, Nets 4,718x Returns
In a surprising turn of events, Pepe Whale caused quite a stir by selling off an eye-popping 150 billion tokens, which led to a drop in prices.
This key player in the Pepe coin market grabbed headlines after cashing out a huge chunk of their assets, triggering fluctuations in the value of the meme currency.
The early investor unloaded these tokens on the Binance crypto exchange, raking in nearly $1.14 million. Clearly, market watchers are paying close attention to this significant move.
The story behind this investment adds a fascinating layer. Early reports indicate that this investor originally spent only about $2,184 to snag an enormous 1.5 trillion Pepe tokens a while back.
After this recent sale, their returns have skyrocketed to an incredible $6.66 million, meaning they've multiplied their initial investment by more than 4,718 times!
Even after such a massive sell-off, they still hold over 493 billion tokens, valued at roughly $3.64 million.
However, this monumental transaction seems to have unsettled Pepe's pricing. Following the sell-off, the coin's value dipped about 4.59% in just one day, with some sources suggesting an even sharper decline of over 5%.
Right now, a single Pepe coin is trading at around $0.00006976, illustrating just how major stakeholder actions can greatly sway market values.
Despite this price drop, trading activity remains strong. In fact, daily trading volume has seen an increase of nearly 3.90%, bumping up to $421.28 million.
This shows that there’s still plenty of interest in buying and selling the meme currency, regardless of the recent downturn.
#pepe #pepe⚡ #NavigatingAlpha2.0 #AmericanBitcoinLaunch #FTXrepayment $PEPE