A recent report from Spot On Chain, a blockchain analytics firm, has revealed that a major cryptocurrency investor, known as a “whale,” has suffered a big loss with Pepe Coin (PEPE). The investor had deposited 519 billion PEPE tokens worth about $5.11 million on Binance.
The reasons behind the sale are not entirely clear, but the data shows that the investor faced a loss of around $207,000, which is a 3.9% drop from their initial investment. The PEPE tokens were bought before the cryptocurrency reached its highest price in late May. If the investor had sold their tokens at that peak, they could have made a potential profit of $3.47 million.
Major Investor Faces Additional Losses Amid PEPE Decline
Further analysis by Spot On Chain reveals that the investor may be struggling with even more financial trouble. The report points out unrealized losses amounting to $6.68 million on other cryptocurrency assets, such as AAVE and YFI.
Source: X – Spot On Chain
In the meantime, the popular “frog” meme token, PEPE, is currently priced at $0.0000092. This digital asset has dropped over 23% this week and saw a peak decline of 36%, reaching levels not seen since early May.
The future of the PEPE token remains uncertain, and it appears that one major investor is particularly affected by the recent downturn.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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