As a researcher with experience in cryptocurrency markets and whale behavior, I find this recent transaction involving a 9 trillion token transfer of PEPE to Bybit by an identified whale to be intriguing. The magnitude of the transfer, worth over $82 million, coincides with a price drop for the memecoin, indicating potential capitulation or sell-off.
A large investor in cryptocurrency, holding approximately 9 trillion units of the meme-based token $PEPE, has recently transferred this amount to the well-known exchange Bybit. This significant transaction has sparked buzz within the $PEPE memecoin community.
Based on information from Whale Alert, a whale transferred approximately 9 trillion PEPE tokens, equivalent to around $82.17 million, to a cryptocurrency exchange. This action occurred concurrently with a 19% price decrease for the meme-inspired PEPE crypto over the last week, implying possible capitulation.
This address belonging to the sender stands out for its frequent and valuable transactions, currently holding approximately 100 Ether, equivalent to over $300,000. Additionally, it boasts a diverse portfolio of various other cryptocurrencies worth over $275 million in total value.
🚨 🚨 🚨 🚨 9,000,000,000,000 #PEPE (82,170,000 USD) transferred from unknown wallet to #Bybit— Whale Alert (@whale_alert) July 10, 2024
Over the past few days, there have been several transactions from the given address that transferred diverse quantities of ETH to Bybit. This observation implies that the investor may be surrendering their position or employing the funds for managing their liquidity within the platform.
Last month, a major investor in the meme-inspired cryptocurrency PEPE transferred a large chunk of their holdings to the prominent crypto exchange Binance. It is speculated that they intended to sell these tokens, resulting in a substantial loss estimated at approximately $1.57 million.
PEpe the Frog meme coin gained significant popularity and entered the cryptocurrency market on April 17, 2023. Although there were concerns about the contract owner’s power to alter transaction taxes and restrict certain functions, this didn’t deter PEpe’s market growth from flourishing remarkably.
As a researcher, I’ve come across an intriguing story about a cryptocurrency investor who saw significant gains from their 0.125 ETH investment in PEPE. In a short timespan, they managed to transform this initial investment into a substantial fortune worth approximately $1.14 million. This success can be attributed to their well-timed purchase of the crypto asset.
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2024-07-11 01:42