Coin Edition -
- PEPE coin skyrockets by 60%, and Whales profit by selling 1.98T coins for $4.37M.
- Idle for 650+ days, a wallet cashes out 1.03T PEPE pre-hike, nets $1.34M.
- PEPE’s active wallets surged 85%, and transactions over $500K spiked, indicating robust market interest.
The Pepe (PEPE) coin took a massive leap in value with a jump of over 60%. This sharp price increase has been accompanied by a wave of profit-taking by large holders, causing massive sales and profits in the ecosystem.
PEPE/USD 24-hour price chart (source: CoinStats)
Concurrently, PEPE’s bullish momentum has had the upper hand, with the price up 35% at press time, trading at $0.000002842. During the rally, PEPE’s market capitalization and 24-hour trading volume surged by 35% and 78.52%, respectively, to $1.2 billion and $1.45 billion.
PEPE Whales Take Advantage
This surge in the price has witnessed six wallets disposing of 1.98 trillion PEPE, worth about $4.37 million, taking around $2 million in profits. This action highlights the tactical play of these investors, letting the coin’s momentum reap hefty profits.
The price of $PEPE has increased by more than 60% today!6 wallets sold 1.98T $PEPE($4.37M) to take profits, with a total profit of ~$2M.Wallet"0xa145" deposited 486.72B $PEPE($1.04M) to #Binance 6 hours ago, making ~$515K (+97%).https://t.co/RyJqmGu1At5 wallets (possibly… pic.twitter.com/rulYxYE4W5— Lookonchain (@lookonchain) February 27, 2024
Within these transactions, one of the two notable wallets that had remained idle for more than 650 days withdrew a massive 1.03 trillion PEPE from Binance just before the price hike, making an unrealized profit of $1.34 million which represents an increase of 95.3% in less than three days.
A wallet withdrew 1.03T $PEPE($2.76M currently) from #Binance before the price of $PEPE increased, with an unrealized profit of $1.34M(+95.3%) in less than 3 days.This wallet had been inactive for over 650 days before withdrawing $PEPE from #Binance.Smart trader or insider?