The Ethereum memecoin $PEPE has seen a remarkable surge, hitting an all-time high of $0.00001127 today with a market cap surpassing $4.5 billion.
This represents a significant gain of over 11% for the day and 32% over the past 7 days, making it the second largest crypto memecoin in the market.
🚨 UPDATE: #Whales are accumulating #Ethereum #memecoin, $PEPE.
The second largest #crypto memecoin hit an all time at $0.00001127 today with over $4.5B market cap #PEPE
— CoinEcho (@mycoinecho) May 14, 2024
Spotonchain data reveals that whales have been actively involved in the $PEPE market, accumulating profits following the coin’s impressive performance. One early holder, identified as 0x647, deposited 250 billion $PEPE tokens, equivalent to $2.69 million, to Binance recently. Despite the deposit, the whale still holds 42.4 billion $PEPE tokens, with a total profit of $3.96 million, marking an impressive gain of 8,833%.
Whales have taken profits after the $PEPE price recorded a new ATH (24H)! Have you taken yours?
1. Early holder 0x647 deposited 250B $PEPE ($2.69M) to #Binance ~12 hours ago.
– The whale has 42.4B $PEPE ($424K) left with a total profit of $3.96M (+8,833%).2. Whale 0xa4f 123.7B… pic.twitter.com/AxUxvMSYac
— Spot On Chain (@spotonchain) May 14, 2024
Similarly, another whale, known as 0xa4f, exchanged 123.7 billion $PEPE tokens for 1.31 million $USDC, realizing a profit of $223,000, representing a gain of 20.5% in just 3 days.
Active Whales Accumulates $PEPE and $FLOKI
Additionally, on-chain data indicates that smart traders are actively accumulating $PEPE and another memecoin, $FLOKI, in the past 24 hours. DWF Labs withdrew 2 billion $FLOKI tokens, valued at $394,000, from Binance, marking their first $FLOKI activity in over a year.
Smart traders are accumulating $PEPE and $FLOKI in the past 24 hours! Is #memecoin season returning?
1. DWF Labs (@DWFLabs) withdrew 2B $FLOKI ($394K) from #Binance 40 mins ago.
– Notably, this is their first $FLOKI activity in over a year.2. Smart trader 0x37d withdrew… pic.twitter.com/ZSSsVuRfKI
— Spot On Chain (@spotonchain) May 14, 2024
Furthermore, smart trader 0x37d withdrew 407.74 billion $PEPE tokens, worth $4.2 million, from Binance in their third trade. This trader has made a profit of $292,000, representing a gain of 6.95%. Overall, the whale has accumulated a total profit of $3.59 million, marking a remarkable 100% increase from their past $PEPE trades.
The accumulation of profits by whales and the active trading activity surrounding $PEPE underscore the dynamic nature of the crypto market, with investors closely monitoring these developments for potential investment opportunities and market trends.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!