CDS Crypto News 22 may Crypto News – PEPE’s Surge: Insights into Crypto Whales’ Profit-Taking Strategies

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22 may Crypto News – PEPE’s Surge: Insights into Crypto Whales’ Profit-Taking Strategies

Ecem EFE22/05/20241 Mins read335

Crypto News Today - Pepe'S Surge: Insights Into Crypto Whales' Profit-Taking Strategies

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.

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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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22 May Crypto News - Pepe's Surge: Insights Into Crypto Whales' Profit-Taking Strategies

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Ecem EFE

Since 2022, Ecem has been creating digital content, combining her passion for technology with writing. Continuing her education in the Mathematics department, Ecem focuses on producing in-depth content on areas such as blockchain, artificial intelligence, and cryptocurrency. She aims to simplify these topics and present them to a wide audience, sharing valuable insights into the crypto industry through her writing. With her innovative content, she strives to raise awareness in the digital world.