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.
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 This same whale had withdrawn 796 billion $PEPE from Binance around five months ago at an estimated cost of $2.51 million.
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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