Massive Transaction from PEPE Balinas Influences Coin Price: A Deep Dive into the Crypto Market (PEPE)

• A high-volume transaction by a whale in the popular memecoin, PEPE, has been detected according to onchain data.
• The whale moved 1.23 trillion PEPE to Binance, causing a sudden drop in the coin’s price by approximately 5.2%.
• The whale had only held these PEPE tokens for three days, closing the trade with a profit of around $134,000, which is a low amount relative to its capital.

A PEPE whale makes a significant move, causing a sudden drop in the memecoin’s price. The whale had only held the tokens for three days, making a profit of around $134,000.

PEPE Whale’s High-Volume Transaction

According to onchain data, a PEPE whale has made a significant move, causing a noticeable effect on the memecoin’s price. The whale transferred 1.23 trillion PEPE to Binance, a transaction valued at approximately $10.6 million. This move resulted in a sudden drop in PEPE’s price by approximately 5.2%. The altcoin is still recovering from this drop.

Whale’s Short Holding Period and Profit

The whale in question had only held these PEPE tokens for three days, closing the trade with a profit of around $134,000. This is a relatively low amount considering the whale’s capital, indicating a profit of approximately 1.28%. In another whale development, a different wallet sold Ethereum to buy Fantom (FTM) tokens. The whale paid a total of $2.12 million in WETH and bought 2.98 million FTM at $0.712 each. This whale had previously made a profit of $1.67 million from an FTM transaction, with a profit rate of 148%.

Conclusion

The crypto market continues to witness significant whale movements, impacting the prices of various coins. While some whales make profits, others cause price drops, as seen in the case of the PEPE whale. As the market continues to evolve, it remains crucial for investors to stay informed about these developments.