Cryptocurrency Whale Starts to Reap Profits in PEPE: Is Meme Season Over?

Cryptocurrency Whales Take Profits From Pepe, Triggering Memecoin Correction; Floki continues to resist.

A whale deposited 196.19 billion PEPE for $1.71 million on Binance, making a profit of 453%.

Despite falling meme cryptocurrencies, Floki's total value locked hits a record $756 million.

Memecoins have recently faced a significant correction as cryptocurrency whales cash in on their profits. However, Floki emerged as an exception, showing remarkable resilience.

Unlike its counterparts, this memecoin has maintained its value, appreciating even against all odds.

Meme cryptocurrencies create a local cap

The cryptocurrency whale, operating under the wallet address 0xe58, strategically deposited 196.19 billion Pepe (PEPE) tokens, worth approximately $1.71 million, onto the crypto exchange -currency – Binance.

According to Spot On Chain, the whale initially acquired 1.196 trillion PEPE tokens at a cost of $0.000001571 each, spending approximately $1.88 million between February 25 and March 1, 2024.

Following a significant increase in the price of PEPE, the recent deposit resulted in a profit of $1.40 million, an increase of 453%.