Crypto whales have made a significant investment of $5.56 million in PEPE amidst the market downturn.
Prominent cryptocurrency whales have taken advantage of the ongoing market decline by purchasing significant quantities of the meme coin Pepe (PEPE)resulting in transactions amounting to around $5.56 million.
This activity coincides with a general decline in the crypto market.
According to Spot On Chain, a platform for on-chain analysis, it has been reported that a well-known crypto whale, known by the wallet address 0xa14, has shown significant activity.
The investor has recently pulled out 350.2 billion PEPE, worth $2.93 million, from the cryptocurrency exchange Binance. This latest transaction represents the fourth in a series of trades, resulting in a total estimated profit of $1.63 million, reflecting a 15% increase.
Moreover, starting from March 14, 2024, this large investor has withdrawn 1.449 trillion PEPE from Binance at an average price of $0.000007496, with total expenditures estimated at $10.86 million.
Binance received deposits of 789.26 billion PEPE, valued at $6.74 million. The investor now has 660 billion PEPE, worth around $5.74 million. They have earned a cumulative profit of $955,000 (+33.6%) with a 100% win rate.
Other traders have also been buying PEPE. According to Lookonchain, investor 0xa4F bought 123.66 billion PEPE for $1.09 million. Wallet address 0x895 withdrew 101 billion PEPE worth around $885,000 from Binance. Additionally, 0x24E3 invested $661,000 to purchase 74.5 billion PEPE. These purchases occurred while Bitcoin experienced a 5% decline, dropping from $63,400 to $60,180. Despite market challenges, PEPE has shown resilience and a quick recovery, currently up almost 7% from Friday's low.
