- Crypto whale agency discovered over $5 million worth of PEPE token deposits on Binance.
- PEPE price revisited its weekly lows and fell below the $0.0000180 support level.
- Meme coin connoisseurs are seeing a worrying trend as whales turn to altcoins.
Meme coin whales are flocking back around PEPE as the frog-themed cryptocurrency falls out of the top 20 by global market capitalization. PEPE prices, which fell double digits on Tuesday, are at their lowest level for the week, but are still up 99% on a monthly basis.
How this PEPE whale raised $5 million
Memecoin, which hit an all-time high 12 days ago, is down 26.7% from this milestone. Pepe’s pullback after a massive 30-day rally has sent the meme coin below $0.0000180 as crypto whales profit after latest PEPE price rally had 100% of investors going green.
Seasoned cryptocurrency whales are starting to secure profits amid volatile market conditions. Popular Crypto Enthusiast “Degenerate LSD” According to SpotOnChain’s Blockchain Intelligence, 254.65 billion PEPE tokens were offloaded to Binance, generating $4.81 million in revenue. Even after the sell-off, Known Whale still holds significant PEPE among other meme coins.
Investors currently hold $14.23 million in digital assets, more than $9 million of which are in Memcoin. Moreover, the largest holding is the remaining 430 billion PEPE tokens, currently worth $7.76 million. With a total PnL of 36.444%, this cryptocurrency whale still holds over $8 million in unrealized profits from Dogecoin’s massive breakout this month.
In fact, the 3.955 million Dogecoins in the cryptocurrency whale account are currently worth $1.5 million. That’s because the top ten cryptocurrencies have gained 360% in the last three months. However, DOGE succumbed to double-digit declines on Tuesday, with the price plummeting below $0.40 despite massive daily trading volume of $11.9 billion.
On the flip side
- The entire meme coin section has lost more than 10% of its value in the past 24 hours, bringing its total market capitalization to $118.55 billion as of press time.
- Changing whale sentiment may explain this.The following trends have emerged over the past few days: Funds flowing from MEMCOIN to altcoin.
Why This Matters
Navigating the cryptocurrency waters with a solid understanding of market timing can give traders an edge over uneducated social and hype-based cryptocurrency plays.
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