As a seasoned crypto investor with a keen eye for market trends, I find the recent activity surrounding PEPE, the third-largest meme coin by market cap, to be quite intriguing. The massive $10.4 million purchase of 1.238 trillion PEPE tokens by a crypto whale, as revealed by Spotonchain, has set off alarm bells in the community.
A significant transaction made by a major crypto investor, involving the meme coin PEPE which currently holds the third-largest market capitalization, has sparked intrigue within the cryptocurrency community. The size of this deal, along with some other notable transactions, indicates that PEPE could be worth keeping an eye on.
Crypto Whale Spends $10.4 Million On PEPE
An on-chain analysis firm called SpotaChain uncovered a wallet with the address 3eAaAC3C9, which bought a massive amount of 1.238 trillion PEPE coins from Binance at an average price of approximately $0.000008424 ($10.4 million). Following this purchase, the large investor, or “whale,” made two separate transactions to withdraw these tokens. The first transaction involved transferring 322.5 billion PEPE coins, while the remaining 915.85 billion PEPE were taken out in the second transaction, as evidenced by on-chain data.
As a financial analyst, I’ve observed some intriguing trends in the crypto market at present. Specifically, the whale holding the tokens has remained unmoved as of now, implying a potential long-term investment strategy. Notably, shrewd traders have been acquiring the meme coin recently, possibly in preparation for substantial price fluctuations. Additionally, Spotochain reported two significant investors who withdrew approximately 660.7 billion PEPE tokens from Binance and MEXC exchange platforms.
The platform announced another large PEPE holder, who withdrew approximately 322.48 billion PEPE tokens ($2.68 million) from Binance for the first time. More recently, Spontonchain highlighted a skilled trader who has been making a profit from the meme coin since last year. This trader is reportedly responsible for executing 8 deals, amassing a total gain of $917,000.
As a researcher studying the cryptocurrency market trends, I’ve noticed PEPE‘s remarkable growth this year. According to CoinMarketCap data, PEPE has achieved a YTD gain exceeding 500%. This bullish trend seems to be continuing, making it an intriguing opportunity for traders who have yet to join the bandwagon. Notably, less than 200,000 individuals currently hold this meme coin.
Price To Hit New All-time High (ATH) Soon
As a crypto investor following the analysis of Plazma and Yazan, I’m excitedly observing the price action of PEPE. Currently, its all-time high (ATH) sits at $0.00001074, which is only 20% below where it’s trading now. Both crypto analysts, Plazma and Yazan, are confident that PEPE will soon reach new heights and hit another ATH. I’m eagerly waiting to see if this prediction comes true and preparing myself for potential profits.
As a crypto investor, I’m keeping a close eye on PEPE, currently ranked as the thirty-first largest crypto token by market cap. With potential for significant growth, I believe PEPE has the possibility to surpass current rankings and potentially even challenge the top 10 crypto tokens by market cap. Analyst and trader Murad shares my optimism, predicting that PEPE could potentially overtake tokens like Shiba Inu (SHIB) and Dogecoin (DOGE).
As I analyze the current market situation, I notice that the value of the meme coin hovers around $0.000008615 at this moment, representing a decrease from its previous price point over the last 24 hours, as indicated by CoinMarketCap’s data.
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2024-05-06 20:46