Giant Whale Turned $26 Into $61.5 Million With This Altcoin Investment! But He Can't Sell It! Here's Why!
Release: 2024/11/14 23:24 Reading: 888
Coinbase and Robinhood List PEPE Memecoin
Coinbase and Robinhood, the leading cryptocurrency exchanges in the United States, recently announced the listing of the popular memecoin PEPE.
PEPE's Price Surge
The listing on these exchanges has resulted in a significant increase in PEPE's value, with a rise of over 50% in the past 24 hours.
Whale Activity
Notably, the listing has also triggered significant activity from whales, large-scale investors who hold substantial amounts of cryptocurrency. Some whales have been actively buying PEPE, while others have sold to capitalize on its price increase.
Whale's Profitable Trade
According to data from Lookonchain, a whale deposited 500 billion PEPE worth $11.38 million into Coinbase for a substantial profit. This whale had purchased 2 trillion PEPE between May 6 and September 10, 2023, for a total investment of 1,173 Ethereum (ETH) worth $2.04 million. The whale currently holds 1.5 trillion PEPE ($36 million), representing a profit of over $45 million.
Whale's Accumulation
In contrast, other whales have continued to accumulate PEPE after the announcement. For example, a whale with the address "0x160f...Ab5B" acquired 197.39 billion PEPE worth $4.8 million from Binance.
Whale's Remarkable Return
One particularly notable whale has garnered attention for turning a modest investment into a massive profit. In April 2023, an investor invested approximately $26 in PEPE, believing in its growth potential. As PEPE's value surged, the investor's $26 investment grew to an astounding $61.5 million.
Developer Blacklist
However, the whale's remarkable profit has not gone unnoticed by the developers. Due to the whale's substantial gains and lack of selling activity, the developers have blacklisted its wallet address, "0xaf23...df54534." This blacklist restricts the sale of PEPE from that wallet.
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