A whale recently transferred $14.5 million of PEPE to Binance and is now buying TURBO, Lookonchain data on May 9 shows.<\/p>\n
Pepe coin (PEPE) is a meme token and one of the top-performing assets after rallying by over 10x in recent days pushing its market capitalization to over $1 billion. PEPE\u2019s performance and trading activity saw it flip mainstream coins, including Bitcoin.<\/p>\n
Trackers on May 9 now indicate that the PEPE whale is actively accumulating TURBO, doubling down on the token.<\/p>\n
Because of the address\u2019 past success, traders are closely watching his actions, with some speculating that TURBO might be the next \u201cbig thing\u201d after PEPE\u2019s success.<\/p>\n
On-chain records show that between April 24 and 27, the whale bought 4.23 trillion PEPE from 422 ETH and 200K USDC.<\/p>\n
On May 5, the whale transferred all tokens to Binance, a cryptocurrency exchange, possibly earning a profit of approximately $14.5 million.<\/p>\n
This giant whale who bought 4.23T $PEPE<\/a> ($15.6M) with 422 $ETH<\/a> ($871K) and 200K $USDC<\/a> deposited all $PEPE<\/a> to #Binance<\/a> 30 mins ago.<\/p>\n His average buying cost is $0.0000002535, and the profit is ~$14.5M now!<\/p>\n He may sell after opening trading, watching out for the price change.pic.twitter.com\/7UoNYG9PJb<\/a><\/p>\n \u2014 Lookonchain (@lookonchain) May 5, 2023<\/a><\/p>\n\n By exiting at PEPE peaks, observers suspect the whale could be an experienced trader or entity.<\/p>\n Nonetheless, though PEPE surged in the first part of last week, the meme token\u2019s price has been cooling off days after listing on Binance\u2019s Innovation Zone and derivatives exchange.<\/p>\n PEPE is ranked 57 on the market cap leaderboard, according to CoinMarketCap data<\/a>. The meme token has gained significant traction at this valuation, attracting interest from speculators and traders.<\/p>\n With PEPE looking fragile, dropping 55% from May\u2019s high, the whale seems to have identified an opportunity in TURBO.<\/p>\n The whale bought 1.38 billion TURBO with $977,000, worth $1.1M at the time of writing. The last time the whale bought TURBO was on May 8.<\/p>\n A smart whale who earned ~$14.5M on $PEPE<\/a> has been buying $TURBO<\/a> since May 3.<\/p>\n He bought a total of 1.38B $TURBO<\/a> ($1.1M currently) with $977K, the average buying price is $0.0007055.<\/p>\n The last time he bought $TURBO<\/a> was 7 hours ago. pic.twitter.com\/eawQWEivKq<\/a><\/p>\n \u2014 Lookonchain (@lookonchain) May 9, 2023<\/a><\/p>\n\n The Turbo<\/a> meme coin is created entirely using artificial intelligence (AI) with Chat GPT-4, the generative AI protocol, taking charge, building the project from scratch and issuing the token.<\/p>\n Fueled by the current rage of AI projects and platforms, the TURBO community is expanding, further propping prices.<\/p>\n As of writing, TURBO is up<\/a> 45% in the last 24 hours, with trading volumes exceeding $140 million. The founder has meticulously recorded the entire process from the project\u2019s documentation while strictly adhering to the AI\u2019s guidance.<\/p>\n Still, it is not clear whether TURBO will replicate PEPE\u2019s success and soar to record highs. Bitcoin prices are relatively lower at spot rates, which could be a hurdle for the token\u2019s price action.<\/p>\n Despite recent double-digit gains, TURBO has resisted selling pressure and separated from the broader market. However, the success of meme tokens relies heavily on hype and FOMO-driven demand, as they generally lack any practical utility. Consequently, their prices tend to collapse rapidly once the hype subsides.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n A whale recently transferred $14.5 million of PEPE to Binance and is now buying TURBO, Lookonchain data on May 9 shows.<\/p>\n Pepe coin (PEPE) is a meme token and one of the top-performing assets after rallying by over 10x in recent days pushing its market capitalization to over $1 billion. PEPE\u2019s performance and trading activity saw it flip mainstream coins, including Bitcoin.<\/p>\n Trackers on May 9 now indicate that the PEPE whale is actively accumulating TURBO, doubling down on the token.<\/p>\n Because of the address\u2019 past success, traders are closely watching his actions, with some speculating that TURBO might be the next \u201cbig thing\u201d after PEPE\u2019s success.<\/p>\n On-chain records show that between April 24 and 27, the whale bought 4.23 trillion PEPE from 422 ETH and 200K USDC.<\/p>\n On May 5, the whale transferred all tokens to Binance, a cryptocurrency exchange, possibly earning a profit of approximately $14.5 million.<\/p>\n This giant whale who bought 4.23T $PEPE<\/a> ($15.6M) with 422 $ETH<\/a> ($871K) and 200K $USDC<\/a> deposited all $PEPE<\/a> to #Binance<\/a> 30 mins ago.<\/p>\n His average buying cost is $0.0000002535, and the profit is ~$14.5M now!<\/p>\n He may sell after opening trading, watching out for the price change.pic.twitter.com\/7UoNYG9PJb<\/a><\/p>\n \u2014 Lookonchain (@lookonchain) May 5, 2023<\/a><\/p>\n By exiting at PEPE peaks, observers suspect the whale could be an experienced trader or entity.<\/p>\n Nonetheless, though PEPE surged in the first part of last week, the meme token\u2019s price has been cooling off days after listing on Binance\u2019s Innovation Zone and derivatives exchange.<\/p>\n PEPE is ranked 57 on the market cap leaderboard, according to CoinMarketCap data<\/a>. The meme token has gained significant traction at this valuation, attracting interest from speculators and traders.<\/p>\n With PEPE looking fragile, dropping 55% from May\u2019s high, the whale seems to have identified an opportunity in TURBO.<\/p>\n The whale bought 1.38 billion TURBO with $977,000, worth $1.1M at the time of writing. The last time the whale bought TURBO was on May 8.<\/p>\n A smart whale who earned ~$14.5M on $PEPE<\/a> has been buying $TURBO<\/a> since May 3.<\/p>\n He bought a total of 1.38B $TURBO<\/a> ($1.1M currently) with $977K, the average buying price is $0.0007055.<\/p>\n The last time he bought $TURBO<\/a> was 7 hours ago. pic.twitter.com\/eawQWEivKq<\/a><\/p>\n \u2014 Lookonchain (@lookonchain) May 9, 2023<\/a><\/p>\nFocus on TURBO<\/h2>\n
Whale Exiting PEPE<\/h2>\n
Focus on TURBO<\/h2>\n