Crypto Whale Buys $3.13M Worth of PEPE amid Market Turmoil

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As a seasoned researcher and analyst who has been closely following the crypto market for years, I must say that the recent moves by these whales are both fascinating and instructive. From my perspective, their actions demonstrate a level of foresight and understanding of the market dynamics that many retail investors can only dream of.

During this latest downturn in the cryptocurrency sector, some investors see these drops as a chance to expand their investments, anticipating profits when the market rebounds. According to Lookonchain’s analysis, a significant investor, recognized by the wallet address cookislandstrust.eth, has been purchasing Pepe coins (PEPE) over the past week.

As an analyst, on the 5th of August, I made a strategic move by acquiring an undisclosed quantity of the meme coin, seizing the opportunity presented during the market dip’s peak. This dip caused Bitcoin to slide down to $49,000 and Ethereum to dip to $2,000 respectively.

Currently, the whale expanded his holdings of PEPE tokens, adding more to his collection. This new addition brings his overall investment in the digital currency to roughly 3.2 million dollars.

A Profit in Ethereum Investments

OnLookchain, it was disclosed that the significant investor is now seeing profits thanks to a short-term market rebound. By Monday, August 12, this online platform reported an estimated paper profit of approximately $170,000 for the investor.

Apart from his PEPE holdings, this large investor, or ‘whale’, additionally bought Ether (ETH) on August 5, which was the very same day he made the PEPE investment.

He spent $7.05 million worth of the USDT stablecoin to buy 2,978 ETH. So far, the investments have generated a decent profit of $534,000.

In the realm of cryptocurrencies, it’s not just the whale that is seeking profitable market openings. Due to the unpredictable nature of the crypto market, investors are usually vigilant, always searching for the optimal moment to get in or out of investments to secure maximum profits.

Over the weekend, it was reported by Lookonchain that another large investor, often referred to as a “whale,” realized a profit close to $8 million from their investment in Ether. Initially, this whale had invested approximately $99 million, and they have been gradually adding to their Ether holdings since May 2024, with the latest purchase made on Saturday.

“In the last half hour, a large investor (a ‘whale’) purchased another 1,800 Ether (ETH) worth approximately $4.7 million! Since May 24th, this investor has amassed a total of 37,800 Ether (worth about $99 million) by making repeated purchases at an average price of $2,420 each. This whale now holds an estimated potential profit of $7.5 million.” (The company shared this information on platform X.)

PEPE Whale Cashes Out Big

On Friday, another whale attracted attention as he successfully sold his PEPE holdings, earning a staggering profit of approximately $5.06 million. This was from an initial investment of $3.4 million. In total, he owned 395.92 billion PEPE tokens, which he subsequently transferred to Binance for selling purposes.

Based on my years of studying and trading cryptocurrencies, I have come to know that some whales, or large-scale investors, are known for handling vast amounts of tokens, sometimes running into millions or even billions. Just recently, on August 1st, one such whale made headlines by transferring approximately 400 billion units of different cryptocurrencies to Binance, with each digital asset estimated to be worth around $4.22 million. This kind of transaction is not unheard-of in the world of crypto, but it still leaves me in awe, given my limited savings and modest investments. It serves as a stark reminder of the immense potential and volatility of this market, and I can’t help but wonder what life must be like for someone who can move such massive sums effortlessly. It’s fascinating to observe the crypto world from the sidelines, but it’s also humbling to realize how much there is still to learn.

In the very same timeframe, a different whale transferred around 200 Bitcoins, equivalent to roughly $10.33 million, over to Binance.

3MMB6, alias for this whale, acquired crypto investments amounting to $5.96 million back in October of last year when the value of Bitcoin was significantly lower than its current price of about $58,000. This investor now enjoys a profit of approximately $4 million.

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2024-08-12 17:17