#pepe⚡
170.2 billion PEPE was sold by the "Diamond Hand" whale, making huge profits
Cryptocurrency whale tracking and analysis account @lookonchain posted a message on the X platform, revealing the movements of a mysterious cryptocurrency whale - "Diamond Hand", who sold a large number of PEPE tokens a few hours ago.
The whale has been holding these PEPE tokens for almost a year and is now reaping huge returns on his memecoin investment.
Selling billions of PEPE, the return rate is amazing.
The aforementioned “Diamond Hand” holder of PEPE transferred 170.2 billion of the popular meme tokens to a cryptocurrency exchange and sold them, making a profit of $1.77 million. According to the tweet, the return on investment was as high as 886%.
@Lookonchain revealed that at the end of October last year, the trader purchased 107.2 billion PEPE tokens, spending $200,000 USDC on it. He still holds it today.
PEPE token plunged 11%.
Popular meme cryptocurrency PEPE has experienced significant losses over the past 24 hours, losing almost 12% after rising 10.76% on Wednesday. As of now, PEPE has fallen below the $0.00001293 price mark and dropped to $0.00001141.
The PEPE token was born in April last year and was created by a group of anonymous developers. Unlike other popular meme coins, PEPE is not inspired by the Shiba Inu, but from the popular Internet meme - Pepe the Sad Frog.
PEPE token still has zero utility.
Many have pointed out that the PEPE token has no practical utility and still doesn’t have one. However, the meme coin appears to be highly attractive to short-term investors and traders, who continue to actively buy and sell PEPE after holding it for a period of time.
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