Crypto whales have been taking advantage of the dip in Pepe's price, scooping up large sums of the memecoin for over $4 million. On-chain data reveals that three whales purchased more than two trillion Pepe coins. Since then, Pepe's price has been on a general downward trend; it is currently trading at $0.00000185, down 56.97% from its all-time high recorded on May 5th. Despite the recent slump, Pepe remains one of the hottest altcoins on the market at the moment, having skyrocketed from its all-time low of $0.000000055142 in a matter of weeks.
Lookonchain noted that whales have been making a killing on their investments, citing an example where an investor bought four trillion Pepe tokens worth 2.1 ETH ($4,410) and earned a profit of $1.71 million. The investor then sold part of their harvest for $906,000, leaving them with 700 billion PEPE coins currently worth $808,000. Although the dip seems to have attracted a lot of attention from investors, whether Pepe will sustain its recent surge remains to be seen.
John Hughes
- 2023-05-12
Crypto Whales Procure Two Trillion Pepe Coins
Crypto whales have been taking advantage of the dip in Pepe's price, scooping up over $4 million worth of Pepe coins. On-chain data reveals that three whales purchased more than two trillion Pepe coins, earning a profit of $1.71 million for one investor.
