A talented cryptocurrency trader and wealthy investor is attracting attention for making huge profits by trading the meme token PEPE.
Blockchain tracking company Lookonchain revealed that an anonymous trader moved 427 billion Pepe tokens, worth $8.5 million at the time, to Kraken, a US-based cryptocurrency exchange where the cryptocurrency could potentially be sold on the public market.
Meanwhile, Whale continues to hold 1 trillion PEPE worth $18.4 million at the time, showing a profit of about $2 million.
Last month, the same trader sold all of his Pepe holdings during the early stages of the December market correction, making millions of dollars in profits, according to Lookonchain. The sale comes after traders accumulated more than 1 trillion Pepe tokens between March and September 2024.
The trader later purchased more than 1 trillion PEPE again in late December as the memecoin price stabilized.
At the time, Lookonchain said:
“This smart whale sold all of its PEPE during the market decline on December 19th, making a total profit of $11.7 million in PEPE! “After the market decline over the past six days, whales have again amassed 1.42 trillion PEPE ($24.5 million).”
At the time of writing, Pepe is trading at $0.000018, down 4.2% in the last 24 hours. With a market capitalization of $7.5 billion, Pepe is the 29th largest cryptocurrency project.
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