The crypto market is seeing a widespread downturn, with many coins experiencing significant losses. Among them, the meme coin $PEPE has notably added a zero to its value, now trading at $0.0000099.
$PEPE DIPS LIKE NEVER BEFORE 😫🤔🤔🚨 BLOODY DAY
Well the market is shading blood but some meme coins like Pepe have taken it to a personal level dip.
Currently Pepe has added a zero
It’s trading at 0.0000099
$PEPE $BTC #BinanceSquareFamily #US_Job_Market_Slowdown pic.twitter.com/iWO1m2cX8a— Crypto Claws (@cryptoclaws_) August 2, 2024
In the past 24 hours, a significant movement was observed when a whale deposited 400 billion $PEPE, worth approximately $4.22 million, to Binance, securing a 2x profit. This same whale had withdrawn 796 billion $PEPE from Binance around five months ago at an estimated cost of $2.51 million.
A whale deposited 400B $PEPE ($4.22M) to #Binance for a 2x profit ~20 mins ago!
Notably, 5months ago, the whale withdrew 796B $PEPE from Binance with an est. cost of only $2.51M;
And now still has 396B $PEPE ($4.18M) left.
The est. total profit from $PEPE is $5.9M (+235%).… pic.twitter.com/a8V4goBME3
— Spot On Chain (@spotonchain) August 1, 2024
After the recent deposit, the whale still retains 396 billion $PEPE, valued at around $4.18 million. This strategic maneuver has resulted in an estimated total profit of $5.9 million, reflecting a substantial 235% gain.
Despite the broader market’s decline, this whale’s actions highlight the potential for significant profit within the volatile meme coin sector, showcasing both the risks and rewards inherent in the cryptocurrency market.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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