One savvy crypto dealer and deep-pocketed investor is drawing consideration for making enormous income 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 alternate Kraken the place the crypto trove may probably 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 accordance with Lookonchain, the identical dealer simply final month gained thousands and thousands of {dollars} in revenue by promoting all his Pepe holdings through the preliminary phases of a December market correction. The sale got here after the dealer had accrued 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 value stabilized.
Stated Lookonchain on the time,
“This sensible whale bought all his PEPE through 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 accrued 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 venture.
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