Today, the price of Pepe (PEPE) experienced a significant surge, reaching a high of $0.00000855, marking a 12% increase.
Spot On Chain, a leading data provider, revealed that this surge was accompanied by notable activity from major investors, indicating growing confidence in the token’s potential.
Two astute traders, who have previously amassed profits exceeding $2 million from trading PEPE, recently added 560.2 billion PEPE tokens to their holdings, totaling $4.67 million in value.
The first trader, known by the handle 0xd93, strategically invested $3.67 million in USDC and 300 WTAO tokens (equivalent to $3.86 million) to acquire 460.2 billion PEPE tokens in a recent transaction.
This purchase marks the initiation of the trader’s third PEPE trading cycle, following previous successful endeavors.
As the price rebounds ~23% (24H), two smart traders, who have earned $2M+ from $PEPE, added 560.2B $PEPE ($4.67M) to their holdings.
1. Trader 0xd93 spent 3.67M $USDC and 300 $WTAO (total: $3.86M) to buy 460.2B $PEPE ~10hrs ago.
• Previous profits from $PEPE: $2.52M.… pic.twitter.com/KyJx3iBHQ8
— Spot On Chain (@spotonchain) March 21, 2024
In retrospect, this trader navigated two previous PEPE trading cycles, experiencing mixed outcomes.
While the first cycle resulted in a marginal loss of $12,000 (-1.97%) from trading 418 billion PEPE tokens, the second cycle yielded substantial profits of $2.53 million (+368%) from trading 501.3 billion PEPE tokens. Notably, the trader’s cumulative profits from PEPE transactions amount to $2.52 million.
More Whale Wallets Shifts From SHIB To Pepe
Another savvy trader, identified as 0x522, recently shifted positions from SHIB to PEPE and ETH via Binance. This strategic move involved depositing 42.08 billion SHIB tokens ($1.12 million) and subsequently withdrawing 100 billion PEPE tokens ($813,000) along with 64 ETH ($224,000).
Despite encountering a minor loss of $30.6 thousand (-8.4%) in the initial PEPE trade, this trader has since accrued an estimated total profit of $4.27 million (+145%) from the second and ongoing PEPE trade, currently holding 300 billion PEPE tokens valued at $2.46 million.
These developments underscore the growing interest and confidence of major investors in the potential of Pepe token, signaling optimism for its future performance in the cryptocurrency market.
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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