- Whale purchased 173 billion PEPE tokens for 1.34 million USDC.
- The whale has already made a return of 886% ($1.77) on its PEPE stake.
- PEPE is buying and selling at $057818 and is up 1.80% within the final 24 hours.
Meme coin PEPE (PEPE) is poised for a worth rally because the whale lately acquired an enormous 173 billion tokens amid a broader digital asset market collapse, with the crypto group now anticipating an analogous market reversal primarily based on PEPE's worth rally.
In line with a submit on social media platform X (previously referred to as Twitter) by blockchain analytics platform Lookonchain, a whale spent 1.34 million USDC tokens to buy 173 billion PEPE tokens. The whale has already earned $1.77 million (+886%) from its funding within the meme coin, and the pockets appears to be staying on the rise of the digital asset. Lookonchain additional added:
“This dealer spent $200,000 USD to purchase $170 billion PEPE on October 25, 2023 and held it till July 25, 2024, when he offered it for $1.97 million USD, making a revenue of $1.77 million (+ 886%)!”
In line with information from CoinMarketCap, PEPE has been probably the greatest performers throughout the current market restoration, rising 826.49% since August of final yr. On the time of writing, PEPE is buying and selling at $0.057818 with a market cap of $3.29 billion and is the twenty fifth largest cryptocurrency by valuation.
As well as, the cryptocurrency elevated by 1.80% within the final 24 hours, whereas buying and selling quantity of the PEPE token decreased by 7.61% and presently stands at $714 million. Meme coin is down 54.47% from its all-time excessive of $0.00001718 in Could this yr. The cryptocurrency hit a every day excessive of $0.058106 earlier than dropping to a every day low of $0.057392 amid a whale that took in 173 billion PEPE.
In line with the chart supplied by TradingView, the Relative Energy Index (RSI) of the PEPE meme coin is at 43.95, which signifies that bears are presently answerable for the meme coin's worth motion.
The buildup of PEPE tokens by a whale might result in a short-term improve in worth. Nevertheless, the efficiency of the broader market can even play an important function. If the general market experiences a surge in shopping for quantity, PEPE might see a major worth improve.
Disclaimer: The knowledge supplied on this article is for informational and academic functions solely. This text doesn’t represent monetary recommendation or recommendation of any type. Coin Version shall not be chargeable for any losses incurred because of the usage of mentioned content material, services or products. Readers are suggested to train warning earlier than taking any motion associated to the Firm.
