Recently, a PEPE whale made a series of moves that resulted in over $3 million in realized profits after the token\u2019s recent price surge. The whale then took a new position and showed potential gains.<\/p>\n
As reported by Lookonchain, a blockchain analytics platform, a whale made a big move<\/a> yesterday after depositing almost 2 trillion PEPE tokens to one of the largest crypto exchanges in the world.<\/p>\n This whale\u2019s shopping spree started June 7, 2023, when Pepe Coin traded at $0.000001054. The address accumulated 1.97 trillion Pepe tokens from June until December last year.<\/p>\n Just over two months after the 6-month buying spree, the whale deposited the entirety of its PEPE holdings, worth around $6.07 million, to Binance. According to the blockchain analytics platform, the whale made over $3.49 million in profit in just a few hours.<\/p>\n A smart whale deposited all 1.97T $PEPE<\/a>($6.07M) to #Binance<\/a> and made a profit of $3.49M.<\/p>\n Then he changed his position from $PEPE<\/a> to $SHIB<\/a>, withdrawing 75.9B $SHIB<\/a>($893K) from #Binance<\/a> 3 hours ago.https:\/\/t.co\/X67O2VjR1y<\/a> pic.twitter.com\/nL7rRDZCXT<\/a><\/p>\n \u2014 Lookonchain (@lookonchain) February 29, 2024<\/a><\/p>\n\n The whale changed its position and bought 75.9 billion SHIB tokens just a few hours later. Suggesting that the investor saw potential in Shiba Inu\u2019s future price performance.<\/p>\n Whales tend to hold massive influence over the market as any movement of their large holdings<\/a> could swing the market\u2019s sentiment over a cryptocurrency.<\/p>\n Typically, when a whale withdraws its holdings from an exchange, investors interpret it as a sign of long-term confidence in that cryptocurrency. On the contrary, when a whale sells large amounts of a coin, investors might take this as a lack of confidence in the token.<\/p>\n At the time of the report, the whale\u2019s massive acquisition of SHIB was worth around $893,000. However, as of this writing, the tokens are worth over $1 million, according<\/a> to Etherscan\u2019s value. This showcases that the investment in SHIB increased its value by over $100,000 in less than 12 hours.<\/p>\n PEPE And SHIB Performance<\/p>\n The whale\u2019s new investment, Shiba Inu, the 19th largest cryptocurrency and the second largest memecoin by market cap, has shown incredible performance in the last 24 hours.<\/p>\n During the last day, SHIB\u2019s price skyrocketed 25.5% and currently trades at $0.00001388. Additionally, the token\u2019s market activity has increased by 127.50%, with a trading volume of over $2.65 billion in the last 24 hours.<\/p>\n On the other hand, PEPE was making headlines<\/a> yesterday due to its impressive 140% price jump from the previous week. The frog-themed memecoin seems to be in the middle of a price resurgence fueled by the market dynamics and its social media popularity.<\/p>\n However, PEPE trades at $0.000002891 at writing time, representing a 12% decrease in the last 24 hours. Compared to the token\u2019s yesterday performance in the same time frame, a 59.47% increase from the day prior, PEPE seems to be facing a momentary slowdown.<\/p>\n Similarly, PEPE\u2019s trading volume and market cap decreased by 22.47% and 11.96% on the last day. These metrics hint at a reduction in recent market activity for the cryptocurrency.<\/p>\n However, its performance in longer timeframes, especially the 7-day 142% price surge, suggests that the memecoin is still outperforming the global cryptocurrency market, according to CoinGecko.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Recently, a PEPE whale made a series of moves that resulted in over $3 million in realized profits after the token\u2019s recent price surge. The whale then took a new position and showed potential gains.<\/p>\n As reported by Lookonchain, a blockchain analytics platform, a whale made a big move<\/a> yesterday after depositing almost 2 trillion PEPE tokens to one of the largest crypto exchanges in the world.<\/p>\n This whale\u2019s shopping spree started June 7, 2023, when Pepe Coin traded at $0.000001054. The address accumulated 1.97 trillion Pepe tokens from June until December last year.<\/p>\n Just over two months after the 6-month buying spree, the whale deposited the entirety of its PEPE holdings, worth around $6.07 million, to Binance. According to the blockchain analytics platform, the whale made over $3.49 million in profit in just a few hours.<\/p>\n A smart whale deposited all 1.97T $PEPE<\/a>($6.07M) to #Binance<\/a> and made a profit of $3.49M.<\/p>\n Then he changed his position from $PEPE<\/a> to $SHIB<\/a>, withdrawing 75.9B $SHIB<\/a>($893K) from #Binance<\/a> 3 hours ago.https:\/\/t.co\/X67O2VjR1y<\/a> pic.twitter.com\/nL7rRDZCXT<\/a><\/p>\n \u2014 Lookonchain (@lookonchain) February 29, 2024<\/a><\/p>\n The whale changed its position and bought 75.9 billion SHIB tokens just a few hours later. Suggesting that the investor saw potential in Shiba Inu\u2019s future price performance.<\/p>\n Whales tend to hold massive influence over the market as any movement of their large holdings<\/a> could swing the market\u2019s sentiment over a cryptocurrency.<\/p>\n Typically, when a whale withdraws its holdings from an exchange, investors interpret it as a sign of long-term confidence in that cryptocurrency. On the contrary, when a whale sells large amounts of a coin, investors might take this as a lack of confidence in the token.<\/p>\n At the time of the report, the whale\u2019s massive acquisition of SHIB was worth around $893,000. However, as of this writing, the tokens are worth over $1 million, according<\/a> to Etherscan\u2019s value. This showcases that the investment in SHIB increased its value by over $100,000 in less than 12 hours.<\/p>\n PEPE And SHIB Performance<\/p>\n The whale\u2019s new investment, Shiba Inu, the 19th largest cryptocurrency and the second largest memecoin by market cap, has shown incredible performance in the last 24 hours.<\/p>\n During the last day, SHIB\u2019s price skyrocketed 25.5% and currently trades at $0.00001388. Additionally, the token\u2019s market activity has increased by 127.50%, with a trading volume of over $2.65 billion in the last 24 hours.<\/p>\nWhale\u2019s Big Moves Bring Big Money<\/h2>\n