A massive transfer of 660.7 billion PEPE coins to Binance has caused a significant drop in PEPE's price, falling 20% from its peak.
A mysterious whale transferred nearly a trillion PEPE meme coins to Binance earlier today, causing asset prices to plummet by an additional 11% from their recent highs. Specifically, an anonymous cryptocurrency trader moved 660.7 billion PEPE coins to Binance a few hours ago. The trader had purchased these tokens a month prior.
After selling PEPE for $9.01 million, the whale realized a profit of approximately $4.95 million, achieving a 52% return on investment in less than a month.
Another analyst, @spotonchain, noted that this transaction occurred after PEPE prices had already dropped 14% in the last 24 hours. They also revealed that the tokens were bought on both Binance and the major exchange MEXC, with a total expenditure of around $4.57 million.
Overall, PEPE has declined over 21% since reaching an all-time high of $0.00001718 on May 27, potentially driven by the SEC’s recent approval of an Ethereum spot ETF. Currently, PEPE is trading at $0.00001374.
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There is no better or less risky entry now, If you missed to catch this whole move, i don't think now it is the right time to chase it unless it goes into a consolidation or provide a pullback.
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$PEPE OVERTAKES POLYGON AND BECAME THE 21ST LARGEST CRYPTO BY MARKET CAP 🚀🚀
WHAT DOES IT MEAN?
$PEPE, one of the largest meme coins in the #Ethereum ecosystem, is going bonkers, and it created a new ATH today 🔥🔥
The main reason behind this pump is that the Ethereum ETF got approved, and #ETH is showing some strength.
In #crypto, money always flows like this, and investing money in meme coins is one of the fascinating things for investors to do in order to make quick money.
I want to warn everyone about serious risks Negative criteria:
1. Excessive hype: Pepe is actively promoted by bloggers and bots. 🚨 This often indicates an artificial price inflation.
2. Lack of Real Value: Pepe doesn't offer anything new or significant technologically. 📉
3. Pump and Dump Schemes: Many investors use “pump and dump” schemes, which can cause the price to plummet.
4. Market Manipulation: Large trading volumes are created artificially, which undermines the credibility of this coin.
5. Lack of Transparency: Lack of clear and transparent information about the developers and project plans. 🤔
Many have already lost significant amounts of money investing in Pepe. Don't fall for this hype and do careful analysis before investing. 🚫 #Crypto#Pepe#ScamAlert#CryptoRisks#InvestSmart#OberAnalyst #MemeCoins Advice from OberAnalyst:
Before investing in coins like Pepe, make sure you understand the risks. Don't let emotions and hype control your decisions. 🚨 #CryptoInvesting#CryptoNews#CryptoAnalysis#Blockchain #InvestWisely
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