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Whales Acquire 720 Billion Pepe Coins During 100% Price Surge

Exciting News Highlights

  • Largest Whales purchase 720 billion Pepe Coin anticipating a surge in PEPE price.
  • All-time high profit booking observed as 100% of traders are currently profitable.
  • PEPE price experiences a slight 1% decline in the past 24 hours, following major selling in derivatives trading.

Over the past month, significant Whales have been accumulating Pepe Coin, driving PEPE price to record highs every day. Recent data from IntoTheBlock indicates that wallet addresses holding over $100K worth of Pepe Coin have increased their holdings in recent days, with all PEPE holders currently in a profitable position.

Today, PEPE reached an unprecedented high of $0.00001156, a substantial increase from CoinGape’s recommendation to purchase Pepe Coin when it was valued at $0.000007079 nearly a month ago.

Whales on a Buying Spree for Pepe Coin

Reports from on-chain platform Lookonchain highlight a massive purchase of 520 billion Pepe Coin by a Whale on May 15, anticipating further price hikes. The Whale withdrew PEPE valued at $5.28 million from Binance.

This investor, not known for frequent trades, has held onto tokens for an extended period. Among 10 tokens purchased, only 5 are profitable, with an overall win rate of 50% and a net loss of $6.1 million according to Lookonchain.

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In a separate transaction, a wallet linked to BlockTower Capital acquired 202 billion Pepe Coin, valued at $2.2 million, through crypto platform Cumberland. Meanwhile, BlockTower Capital’s primary hedge fund faced a breach and partial depletion due to malpractice.

Investor interest surged as the PEPE price hit new records, with data from IntoTheBlock indicating that all PEPE traders are currently profitable, hinting at potential sell-offs by major investors.

PEPE Price Decline Amid Profit-Taking

PEPE’s price dipped by 1% over the last 24 hours as major investors realized profits, with the current value at $0.00001035. The price fluctuated between $0.00001004 and $0.00001156 in the past day, accompanied by a 24% decrease in trading volume, signifying waning interest from traders.

While Pepe Coin soared by over 100% in a month due to substantial Whale accumulation, derivatives trading data suggests extensive selling activities across various crypto platforms. Open interest in 1000PEPE futures plummeted by 15% on exchanges like Binance, Bybit, BingX, and Coinbase.

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