PEPE’s Surge: Decoding the Moves of Crypto Whales
Crypto News- Crypto whales are making waves in the market as they capitalize on PEPE’s meteoric rise. BlockTower Capital, a major player, recently sold a whopping 202.22 billion PEPE tokens to trading firm Cumberland, netting a tidy profit of $569,000 in just seven days—a staggering 25.6% return. According to Spot On Chain, BlockTower Capital has completely divested from PEPE.
But they’re not the only ones reaping rewards. Another early investor, identified by the crypto whale address 0x6D5, recently deposited a staggering 182.909 billion PEPE tokens into Binance, cashing out at $2.28 million. This investor’s savvy move saw an astronomical profit of $3.14 million, marking an unbelievable 680,000% increase from their initial investment of just 0.22 Ethereum.
PEPE’s recent surge, soaring over 20% in the last 24 hours and a whopping 45% this week, has ignited profit-taking activities among savvy investors. The speculation around the potential approval of spot Ethereum exchange-traded funds in the U.S. is driving this rally, with Ethereum-based meme coins like PEPE attracting considerable attention. Analysts view these meme coins as a leveraged bet on Ethereum’s future growth, making them enticing—but risky—assets in today’s market frenzy.
FAQs
What are crypto whales?
Crypto whales refer to individuals or entities that hold large amounts of cryptocurrency. They often have the ability to influence market trends due to the significant size of their holdings.
How did BlockTower Capital profit from PEPE?
BlockTower Capital sold 202.22 billion PEPE tokens to trading firm Cumberland, realizing a profit of $569,000 within just seven days. This marked a remarkable 25.6% return on their investment.
Who is the investor behind the crypto whale address 0x6D5?
The investor behind the crypto whale address 0x6D5 deposited 182.909 billion PEPE tokens into Binance, cashing out at $2.28 million. They saw an astonishing profit of $3.14 million, representing a staggering 680,000% increase from their initial investment.
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