A savvy trader of crypto and a deep-pocketed investment is attracting attention after making massive profits by trading the meme token Pepe.
Lookonchain, a blockchain tracking company, says that an anonymous trader transferred 427 billion Pepe Tokens valued at $8.5 Million to US crypto exchange Kraken. The crypto treasure trove may have been sold in the open market.
The whale continued to own one trillion PEPE, worth about $18,4 million, at that time. This showed a gain of around $2 million.
Lookonchain reports that the same trader made millions in profits by selling his Pepe tokens at the beginning of the December correction. This sale was made after the trader accumulated over one trillion Pepe Tokens between March 2024 and September 2024.
In late December, the price of memecoin stabilized and the trader bought another more than 1 trillion PEPE.
Lookonchain said at the time.
This smart whale made a profit of over $11.7 million by selling all of his PEPE on the 19th December. The whale has accumulated 1,42 trillion PEPE (about $24.5 million) over the last six days after the decline in the market. .”
Pepe’s price is $0.000018 as of the time this article was written, down by 4.2% over the past 24 hours. Pepe, with a $7.5 billion market cap is the 29th largest crypto project.
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Sources of Images include Pixabay Creative Commons & Midjourney
The post This Post Whale Deposits 427,500,000,000,000 PEPE To Kraken During Correction To Lock in Profits: Lookonchain could be updated as new information becomes available.
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