Veröffentlicht von • PEPE token price has dropped by 46.53% from its all-time high of $0.000004354.
• A whale purchased 4.23 trillion PEPE tokens using 422 $ETH and 200K $USDC, then depositing them in Binance on the same day of the listing announcement.
• The move has caused market fear, bringing the PEPE price down to its current level of $0.000002328, leading to a loss of about $14.5 million for the whale.
PEPE Price Drops After Whale Transfers Trillions of Tokens
PEPE is a meme token that has seen a lot of popularity recently and hit an all-time high of $0.000004354 on May 5th, 2023 before dropping back down to its current level of $0.000002328 – a decline of 10.93% in just 24 hours and 46.53% since hitting its all-time high three days prior.
Whale Buys 4.23 Trillion PEPE Tokens
A massive whale bought 4.23 trillion PEPE tokens using 422 ETH and 200K USDC according to blockchain data provider Lookonchian and then deposited them into Binance on the same day that it was announced that the token would be listed there.
Price Drop Causes Losses For Whale
The sudden increase in supply after this large purchase caused some fear amongst traders in the market, which lead to a sharp drop in price and resulted in losses for the whale; they had made a profit around $14.5 million when they were depositing their tokens but have now lost out due to this price drop.
Crypto Market Uncertainty
The uncertainty surrounding cryptocurrency markets such as this one can cause these kinds of large fluctuations and losses for investors, no matter how experienced or savvy they are with trading cryptocurrencies.
Conclusion
It remains to be seen whether or not prices will recover for PEPE or if it will continue to decline, however this case serves as an example for why it’s important for investors to be cautious when investing in cryptocurrencies even when their prices seem too good to pass up!