A prominent PEPE whale has transferred 300 billion $PEPE, worth $6.77 million, to Kraken just two hours ago, stirring interest in the token’s market activity.

This whale has been an active trader, accumulating 775.5 billion $PEPE ($9.28 million) via Kraken between March and September at an average price of $0.000012.

So far, the whale has sold 482.2 billion $PEPE at an average price of $0.000021, pocketing a hefty profit of $4.82 million. Despite these sales, the whale still holds 263.3 billion $PEPE, currently valued at $5.82 million.

In another strategic move, the same whale recently sold 100.14 billion $PEPE tokens, valued at $2.34 million, to purchase NFTs and position for the $PENGU airdrop. The sale netted 581 $ETH ($2.34 million), which the whale promptly used to acquire 16 Pudgy Penguins for 537 $ETH ($2.15 million) and 11 Lil Pudgys for 40.5 $ETH ($163,000).

This activity highlights the whale’s calculated approach to diversifying holdings while capitalizing on opportunities like the $PENGU airdrop. The shift from PEPE tokens to high-profile NFTs such as Pudgy Penguins indicates confidence in the growing utility and demand for these digital assets.

With the PEPE whale’s movements contributing to significant market liquidity, traders and investors are closely monitoring the token’s price trends and the whale’s remaining holdings. At the same time, the substantial investment in NFTs underscores the dynamic strategies employed by whales in today’s crypto ecosystem.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!