Smart traders in the cryptocurrency market remain bullish on Pepe (PEPE). On-chain data from blockchain analytics firm Lookonchain published in a thread on Twitter revealed the latest Pepe trading activity from "whales," investors who hold a large sum of PEPE coins.

The first whale discussed by Lookonchain was 0x9cd6, which reportedly bought 7.3 billion PEPE coins for 11 Ethereum (ETH), an amount estimated to be worth $20,861. The whale then began buying PEPE again after selling 1.75 billion coins for 2,128 ETH, an amount valued at approximately $4.18 million, in what might have been a move to take profits. 0x9cd6 then bought 936.5 billion PEPE coins again with 1,374 ETH at a purchasing price of $0.000002922.

Moreover, the whale 0x45cf sold off PEPE coins and bought 227 million Capy (CAPY) using 1 ETH instead. Additionally, the whale qianbaidu.eth bought PEPE following a sale of Turbo (TURBO). In the past 24 hours since the sale, qianbaidu.eth bought 194 billion PEPE using 271 ETH priced at $0.000002649.

When it came to TURBO trading, the whale reportedly bought 285 million TURBO coins for 382 ETH, but soon closed the position for 246 ETH, incurring losses estimated at around 136 ETH or $291K. Lastly, another whale 0x13b3 sold 99 billion PEPE coins to get 256K USD Coin (USDC) at an average selling price of $0.000002585. This whale still holds 400 billion PEPE coins equivalent to $1 million.

As of press time, CoinMarketCap data showed PEPE’s rate was down 4.16% trading at $0.000002451, slightly lower than its 24-hour low of $0.000002395. This altcoin was also 1.89% and 2.56% down against Bitcoin (BTC) and Ethereum (ETH), respectively.

Whales continue to show faith in cryptocurrency Pepe by trading large sum of PEPE coins. Despite the altcoin's bearish trend, whales still hold big sums of the digital asset, revealing their conviction in its potential to yield more profits in the future. Many investors view such activities as a sign of strengthening confidence that the altcoin's value could surge soon, which is why it’s important to always stay informed on crypto trading.



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