Giant Whales Unload 1 Trillion PEPE on Largest Exchanges as PEPE Hits New ATH
Release: 2024/11/14 23:38 Reading: 727
Whale Activity Impacts the Price of PEPE
Whale Unloads Trillions of PEPE
An analytics account (@spotonchain) on the X social media platform reported that a large whale unloaded 526.2 billion PEPE ($10 million) on the Binance platform, followed by another whale transferring 500 billion PEPE ($11.73 million) to Coinbase. The latter had held their PEPE since 2023, purchasing it for 1,170 ETH ($2.12 million).
Historical Purchases and Estimated Profit
The whale who purchased 2.01 trillion PEPE between May 5 and September 10, 2023, now holds 1.48 trillion PEPE ($33.2 million) farmed through Sophon. Their estimated total profit is $43 million (20x).
Coinbase Listing Boosts PEPE's Value
PEPE has been listed on several major platforms, including Coinbase, Robinhood, and Upbit, leading to a significant price increase. The cryptocurrency reached an all-time high of $0.00002524, although it has since corrected by 16.08% to $0.00002174.
Surge in Meme Cryptocurrencies
According to Santiment, PEPE is one of the top-performing meme cryptocurrencies in the past week, followed by Dogecoin (96%), Dogwifhat (67%), and Bonk (67%). Santiment cautions that when meme coins dominate the market, it can indicate excessive speculation and emotional trading.
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