PEPE Whale Earns $52M Profit After Dormant 600 Days Hold
Release: 2024/12/15 16:17 Reading: 786
Pepe (PEPE) maintains stability following a period of extreme volatility. This price stability results from significant market developments. Lookonchain data indicates a surge in whale activity, suggesting investor accumulation and profit-taking.
On December 14th, Lookonchain detected a significant PEPE whale movement. After two years of dormancy, the whale transferred all PEPE tokens to a new address, securing a $52 million profit.
The whale sold 2.1 trillion PEPE tokens purchased at the coin's launch for 0.0135 ETH ($27). After holding the tokens for 600 days, the whale realized the profit mentioned above.
Recent weeks have witnessed the resurgence of dormant PEPE holdings, coinciding with the crypto's bullish momentum. Just five days prior, a Pepe address sold 121.75 billion PEPE tokens ($3.21 million) after two months of dormancy, earning a $2.1 million profit.
The revitalization of dormant Pepe activity suggests a strategic position or increased confidence as PEPE stabilizes at $0.00002426. Such activity highlights the commitment of early PEPE adopters and the minimal costs associated with transacting large amounts on the blockchain.
PEPE's bullish trend shows signs of correction, as evidenced by a recent 3.3% rise to $0.00002425. While traders increase activity on the third-largest meme coin by market cap, the token's weekly performance has climbed by 13.6%. However, a short-term correction appears underway, with a 18.4% rise over the past two weeks and a 3.1% gain over the past 30 days.
Despite this correction, the uptrend momentum indicates a strong bullish sentiment, with buyers outperforming sellers. As PEPE prepares for further gains, traders seek profitable opportunities within this movement.
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