- 217 billion PEPE tokens worth nearly $454 million were transferred to the Kraken crypto exchange, suggesting a whale is cashing in on PEPE.
- The whale has made significant profits from trading PEPE in the past, demonstrating savvy market timing and understanding of meme coin cycles.
- PEPE recently got listed on Binance with a JPY trading pair, boosting its exposure to the Japanese market.
A recent movement of 217 billion PEPE tokens, equivalent to almost $454 million, to the Kraken crypto exchange has sparked intrigue in the cryptocurrency market. This enormous transaction, highlighted by the on-chain analytics platform Spot On Chain, indicates a whale possibly cashing in on PEPE once more.
The Whopping PEPE Transaction
Spot On Chain has reported that a considerably savvy whale deposited 217 billion PEPE, amounting to $454 million, to the Kraken platform a few hours ago, potentially realizing a profit of $767,000 or 20% in just 17 days. Despite the recent liquidation, the whale still holds a substantial investment in PEPE, with 1.21 trillion PEPE tokens across two wallets, currently valued at $251 million. Furthermore, the whale possesses an unrealized gain of $405 million on these remaining holdings.
The Mystery Whale’s Trading History with PEPE
This isn’t the first time this mysterious whale has profited from PEPE trading. In 2024, the whale reportedly made an impressive $1.139 million or 571% profit from its initial PEPE trade, earning a reputation for well-timed market moves. This successful execution of short-term trades exhibits both adept market timing and a deep comprehension of meme coin cycles.
Recent Market Movements of PEPE
Santiment, another on-chain analytics platform, has recently listed PEPE among the coins experiencing significant movements to exchanges. At present, PEPE has declined by 17.4% in the past 24 hours to $0.00002036 and decreased by 37.6% weekly. PEPE’s value started to drop after a two-day rally at the beginning of the year, peaking at $0.00002188 on January 4.
PEPE’s New Listing on Binance
PEPE has recently achieved a significant milestone with Binance, a major crypto exchange, announcing the addition of additional JPY pairings, including PEPE/JPY. This development is anticipated to enhance PEPE’s exposure in the Japanese market, thereby boosting trade volumes and overall market presence.
Conclusion
The movement of 217 billion PEPE tokens has certainly created a stir in the crypto market. With the whale’s continued investment in PEPE and its new listing on Binance, this obscure meme coin is certainly catching the attention of crypto enthusiasts worldwide. However, as with all cryptocurrency investments, it’s advisable to conduct thorough research and consult financial experts before making any decisions.
