One savvy crypto dealer and deep-pocketed investor is drawing consideration for making big earnings buying and selling meme token Pepe (PEPE).
Blockchain monitoring agency Lookonchain says an nameless dealer moved 427 billion Pepe tokens value $8.5 million on the time of the switch to US-based crypto trade Kraken the place the crypto trove might doubtlessly be bought on the open market.
In the meantime, the whale continues to carry one trillion PEPE value $18.4 million on the time, exhibiting a revenue of about $2 million.
In line with Lookonchain, the identical dealer simply final month gained hundreds of thousands of {dollars} in revenue by promoting all his Pepe holdings in the course of the preliminary phases of a December market correction. The sale got here after the dealer had collected a couple of trillion Pepe tokens between March and September of 2024.
The dealer subsequently purchased a couple of trillion PEPE once more in late December because the memecoin’s worth stabilized.
Said Lookonchain on the time,
“This good whale bought all his PEPE in the course of the market drop on December nineteenth, making a complete revenue of $11.7 million on PEPE! Over the previous six days, after the market decline, the whale collected 1.42 trillion PEPE ($24.5 million) once more.”
Pepe is buying and selling for $0.000018 at time of writing, down 4.2% within the final 24 hours. With a market cap of $7.5 billion, Pepe is the Twenty ninth-largest crypto undertaking.
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