A involving the third-largest meme coin by market cap, PEPE, has drawn the crypto community’s attention. The magnitude of the transaction, coupled with some other whale transactions, suggests that it may be high time to pay to PEPE.
Crypto Whale Spends $10.4 Million On PEPE
revealed a wallet (3eAaAC3C9) that had purchased 1.238 trillion PEPE from Binance at an average price of $0.000008424 ($10.4 million). This wallet then proceeded to withdraw the tokens in two transactions. On-chain data shows that the whale withdrew 322.5 billion PEPE in the and the remaining 915.85 billion PEPE in the .
At the time of writing, the whale hasn’t moved the tokens, suggesting they may be looking to hold for the long term. Some notable smart traders look to have been accumulating the meme coin lately, most likely in anticipation of significant price moves from it. Spotonchain also recently revealed two whales that had withdrawn 660.7 billion PEPE from and MEXC.
The platform also another whale that withdrew 322.48 billion PEPE ($2.68 million) from Binance for the first time. More recently, Spotonchain drew the crypto community’s attention to a smart trader who has been profiting from the meme coin since last year. This trader is said to have completed 8 trades and realized a cumulative profit of $917,000.
Seeing how PEPE has performed since the start of the year, these whales’ interest in the meme coin isn’t surprising. from CoinMarketCap shows that PEPE has made a year-to-date (YTD) gain of over 500%, and this looks to be far from over. Interestingly, many traders have yet to jump on the the wave, as just over 200,000 persons the meme coin.
Price To Hit New All-time High (ATH) Soon
Crypto analyst Plazma recently that PEPE could soon hit a all-time high. PEPE’s current ATH is at $0.00001074, with the meme coin trading just 20% below this price level. Crypto analyst Yazan also that meme coin would soon hit a new all-time high, asking his followers if they were ready for this to happen.
PEPE is currently ranked as the thirtieth largest crypto token by market cap and is likely to climb higher if it eventually hits a new ATH. Crypto analyst and trader Murad believes that the meme coin could rise to the top 10 crypto tokens by market cap since he that PEPE could flip and possibly .
At the time of writing, the meme coin is trading at around $0.000008615, down in the last 24 hours, according to from CoinMarketCap.
Token price drops to $0.0000084 | Source: