Crypto News

Ethereum-Based Memecoin $PEPE Hits All-Time High Amid Major Onchain Activity

The Ethereum-based memecoin $PEPE has recently surged to an all-time high, drawing significant attention from major investors and early adopters.

Numerous onchain reports highlight substantial transactions, reflecting the heightened market activity and investor interest in $PEPE.

BlockTower Capital, a prominent investment firm, transferred 202 billion $PEPE (valued at $2.8 million) to Cumberland for sale just hours after $PEPE’s price broke through the $0.000014 mark.

This move came after BlockTower Capital had acquired the same amount of $PEPE for $2.22 million through Cumberland six days earlier, resulting in a profit of $578,000 and an impressive ROI of 26%.

Additionally, an early $PEPE investor made a notable move by depositing all 182.9 billion $PEPE (worth $2.53 million) into Binance.

This individual had initially spent 0.22 $ETH (approximately $462) to buy 324.9 billion $PEPE on April 15, 2023. The sale netted them a staggering $3.4 million, marking a gain of 7,368 times their initial investment.

Whales Take Profit By Depositing $PEPE Into Exchanges

In another significant transaction, a savvy trader deposited 201.85 billion $PEPE (valued at $2.83 million) to Bybit to take profits. This trader has a perfect track record, having traded $PEPE three times and profiting on each occasion, accumulating a total profit of approximately $2.48 million.

Meanwhile, a whale made a notable withdrawal of 592 billion $PEPE (worth $7.95 million) from Binance just hours ago. This action likely occurred during the recent price increase over the past two days, indicating the whale’s strategic move to capitalize on the surge.

These transactions underscore the intense interest and strategic maneuvers by investors around $PEPE, highlighting the memecoin’s potential and volatility. As $PEPE continues to break new ground, the market will be closely watching for further developments and significant moves by key players.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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