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PEPE Whale Makes $8.13M In Profit As Bullish Rally Continues
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PEPE Whale Makes $8.13M In Profit As Bullish Rally Continues

Rubmar Garcia
Rubmar Garcia
1 year ago
3 mins read
pepe coin, pepe, pepeusdt, memecoin

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Created by industry experts and meticulously reviewed
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Pepe coin (PEPE) has been showing an incredible performance alongside the rest of the crypto market. This weekend, the two biggest cryptocurrencies, Bitcoin and Ether, displayed remarkable price growth.

BTC keeps reaching new all-time highs (ATH), and ETH surpassed the $4,000 mark for the first time in two years. Similarly, PEPE joined the party after hitting a new ATH over the weekend, which prompted whales to take profit on their bags.

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Whale Makes Big Profits After Price Surge

After its launch in April of last year, the frog-themed coin shook the crypto space and the memecoin market, becoming one of the most recognizable memecoins in the sphere.

Despite the big start, PEPE’s price started fading as the market turned its eyes to competitors like BONK and other Solana-based memecoins. However, the bull run has propelled the market prices to heights unseen since 2022, and PEPE has taken advantage of the bullish momentum.

As reported by the blockchain analytics platform Lookonchain, a whale made over 431% in profits in just two weeks. The address shows that the trader withdrew over 1 trillion PEPE tokens from Binance in three transactions before the price skyrocketed.

In just 2 weeks, this trader made $8.13M(+431%) on $PEPE!

This trader deposited 196.18B $PEPE($1.7M) to #Binance for profits 4 hours ago, with 1T $PEPE($8.31M) left.

He withdrew 1.19T $PEPE(cost ~$1.88M) from #Binance before the price of $PEPE increased.… pic.twitter.com/FWZgIWcCYP

— Lookonchain (@lookonchain) March 10, 2024

The first transaction of 713.12 billion PEPE was made 15 days ago when it was trading at around $0.00000138. The second withdrawal, about 316.36 billion tokens, was done a day later when the token price was $0.00000180. Finally, the trader withdrew 116.7 billion tokens one more time when the price was hovering around $0.00000269.

Lookonchain said these withdrawals accounted for 1.19 trillion PEPE tokens, which cost about $1.88 million. Yesterday, the whale deposited 196.18 billion tokens back to Binance for profits of $1.7 million.

The address still has 1 trillion PEPE left, worth around $8.13M at the time of the report. At the time of writing, these holdings had increased by over $1 million and were worth $9.13 million.

As reported by NewsBTC, whales have profited from their PEPE holdings since the memecoin started its resurgence in late February.

PEPE’s Massive 800% Surge

Despite the volatile crypto market and whales selling large amounts of PEPE, its community seemingly feels confident in the frog-theme coin and considers it THE memecoin of this bull run.

$PEPE will surprise everyone like $DOGE did in 2021.
After the first Dogecoin pump in 2021, some people regretted not buying.
Don't make the same mistake in 2024 with $PEPE. This is THE meme coin of this bullrun. pic.twitter.com/lUq213XwFQ

— Tryrex (@Tryrexcrypto) March 9, 2024

Since the memecoin interest surged, Pepe coin has tagged along and shown massive growth. In the last 14 days, the token has registered a staggering 549% price. Even more impressively, the price has risen 799.5% in the past month.

The token has climbed to the top of the memecoin ranking after flipping tokens like BONK and CorgiAI. PEPE now sits as the third largest memecoin with a market capitalization of $3.85 billion, an 8.41% increase in the last 24 hours.

Similarly, its daily trading volume has increased by 16.85% to $1.49 billion, suggesting that market activity and interest in the memecoin have surged in the last day.

At writing time, PEPE is trading at $0,000009135. This represents an 8.5% rise in 24 hours and a 5.95% decrease from its ATH of $0,000009793, registered two days ago.

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PEPE, PEPEUSDT

PEPE price performance in the 5-day chart. Source: PEPEUSDT on Tradingview.com
Featured image from X.com, Chart from Tradingview.com
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Rubmar Garcia
Rubmar Garcia

Rubmar Garcia

Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology.

Read more

From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations.

In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn’t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored.

At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money.

After the failure of her home country’s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education.

Moreover, the peculiar nature of the crypto community sparked Rubmar’s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies ­–or her favorite memes.

In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school’s marching band.

She also has a passion for learning new languages and cultures, having set the goal to learn another six languages ­– currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats –hers or stray.

In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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