- An anonymous whale deposited 427B PEPE tokens ($8.5M) to Kraken, sparking sell-off speculation amid a 3.64% dip.
- Despite the market correction, the whale still holds 1 trillion PEPE tokens valued at $18.4 million, securing $2 million in profits.
- Previously, the trader profited $11.7 million in December 2024 after strategically selling and reacquiring PEPE during market fluctuations.
In cryptocurrency, meme tokens often result in unpredictable market movements that record eye-popping gains. An anonymous trader, a smart investor with deep pockets, has been making headlines due to his lucrative dealings with Pepe (PEPE), a meme-based cryptocurrency.
Blockchain analytics firm Lookonchain reported this unnamed whale as transferring an astonishing 427 billion Pepe tokens valued at an incredible $8.5 million to Kraken, a US-based cryptocurrency exchange. This sizable move fueled speculation that this trader may sell the token on the open market anytime soon.
The anonymous trader’s activity doesn’t end there. Blockchain data also reveals that this investor currently holds a whopping one trillion tokens valued at $18.4 million. The whale sits on approximately $2 million in profit, even after recent market turmoil, bringing home a point about the market’s good timing.
At the time of writing, Pepe (PEPE) is trading at $0.000017 per token, with a 24-hour trading volume exceeding $1.45 billion. Despite the high activity, the token’s price has dipped 3.64% over the past 24 hours, reflecting the volatility meme tokens are known for.
This is not the first time this trader has reaped huge benefits from the token. In December 2024, during the market correction, the whale sold all token holdings, earning $11.7 million in profit. This move followed the careful accumulation of over one trillion tokens between March and September 2024.
The investor purchased an even larger amount when the market stabilized later that month. They bought 1.42 trillion tokens worth $24.5 million, betting on a rebound.
Crypto Whale Profits $11.7M on PEPE
Lookonchain noted the whale’s strategic maneuvers, saying:
“This smart whale sold all his PEPE during the market drop on December 19th, making a total profit of $11.7 million on PEPE! Over the past six days, after the market decline, the whale accumulated 1.42 trillion PEPE ($24.5 million) again.”
This anonymous trader’s case has become high-octane. The possibility of huge gains in a meme token market highlights the risks associated with such investments. Meme tokens like PEPE are usually known for extreme price volatility, hence offering views of incredible profit opportunities and substantial risks.
The crypto world is on tenterhooks, watching this whale. The question seems to be, “Will he sell his remaining at these current levels or wait for another surge higher in the price of PEPE?” For now, the market is buzzing and speculating. Token holders are kept on their toes as they closely observe the next movement of the token.
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