Pepe ($PEPE) has experienced a pullback amidst the recent crypto market reversal. Despite this downturn, data from @intotheblock reveals that 86% of $PEPE holders remain in profit.
This indicates strong resilience among investors even as market conditions fluctuate.
Today, a significant whale activity was recorded when the wallet 0x837 deposited its last 300 billion $PEPE, worth approximately $3.85 million, to Binance. This move resulted in a loss of around $1.73 million for this whale, highlighting the high-stakes nature of large-scale crypto investments.
This transaction follows another substantial deposit made yesterday by the same whale. The investor had deposited 1.1 trillion $PEPE, valued at roughly $14.42 million, into Binance.
Following this, the whale withdrew 1,210 $ETH (approximately $4.1 million) from the exchange. If sold at the price of deposit, this transaction would have resulted in a loss of about $894,000.
8 minutes ago, a whale 0x837 just deposited his last 300B $PEPE (~$3.85M) to #Binance.
With this deposition, he has a loss ~$1.73M with this investment.Yesterday, he already deposited 1.1T $PEPE (~$14.42M) and withdrew 1,210 $ETH (~$4.1M) from #Binance. https://t.co/usoIz6KcR9
— The Data Nerd (@OnchainDataNerd) June 27, 2024
Significant Number Of $PEPE Holders Are Still On Profit Despite Recent Market Volatility
Despite these individual losses, the broader investor base appears to be faring better. The fact that a significant majority of $PEPE holders are still in profit suggests that the cryptocurrency retains a strong foundation and loyal investor support. This is particularly notable in a market often characterized by rapid changes in sentiment and value.
The whale’s recent actions, involving substantial deposits and withdrawals, could be seen as a strategic maneuver in response to market conditions. However, these moves also reflect the inherent volatility and risks associated with large investments in the crypto space.
Overall, while $PEPE is currently experiencing a market pullback, the underlying data points to a robust investor base that remains largely profitable. This resilience could provide a buffer against further declines and potentially pave the way for recovery as market conditions stabilize. As always, the movements of large holders (whales) will continue to play a significant role in the token’s short-term performance.
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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