(Wednesday 14 August 2024, 03:25 PM GMT):
The cryptocurrency market has been on a rollercoaster this August, with significant price swings keeping investors on their toes. Bitcoin (BTC), for example, took a sharp dive from its high of $70,000 on August 5th, dropping to $49,000 before making a partial recovery to stabilize around the $60,000 mark.
Amidst this volatility, one major PEPE token holder—commonly known as a whale—decided to cash out. According to data from Lookonchain, this whale offloaded 420 billion PEPE tokens just an hour ago, netting around $3.13 million from the sale. Interestingly, this whale had acquired these tokens in two separate purchases on August 5th and 12th, investing a total of 3.13 million USDT.
A whale who bought 420B $PEPE($3.13M) at the bottom of the market crash dumped it 30 minutes ago!
— Lookonchain (@lookonchain) August 14, 2024
The whale spent 3.13M $USDT to buy 420B $PEPE on Aug 5 and Aug 12, then sold it all for 3.16M $USDC just 30 minutes ago, making a profit of only $30K.
Address:… pic.twitter.com/ysFCDjHVOm
Despite the massive transaction size, the whale only made a modest profit of $30,000 from the sale. This decision to sell might have been influenced by the recent market fluctuations, as the ongoing volatility could have created uncertainty about the token’s future performance.
Disclaimer:
The information provided in this article is for general informational purposes only and does not constitute financial advice.