Analytics account on the X social media platform (previously famous as Twitter) @spotonchain spread the word about a giant whale who unloaded half a trillion PEPE meme coins on leading crypto exchange Coinbase.
Prior to that, another whale dumped a slightly larger PEPE chunk on the largest trading platform Binance. In the meantime, PEPE has managed to rise to 15th place on the CoinMarketCap scale and reached an all-time high of $0.00002524 11 hours ago.
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Whales unload over trillion PEPE
The aforementioned data source mentioned that first a whale dumped 526.2 billion PEPE worth $10 million on Binance after a week of holding. He made roughly $5 million in profit. This transaction and then sale took place earlier today. It happened after the largest U.S. exchange, Coinbase, announced the listing of not only PEPE but also Dogwifhat (WIF). Both coins’ prices skyrocketed after that.
That was followed by another whale transferring 500 billion PEPE (valued at $11.73 million) to Coinbase. He had been holding his PEPE since 2023, having bought it between May 5 and Sept. 10 for 1,170 ETH (worth $2.12 million).
Another giant whale with a $43M profit deposited 500B $PEPE ($11.73M) to #Coinbase 2 hours ago!From May 5 to Sep 10, 2023, this whale bought 2.01T $PEPE using 1.17K $ETH (cost: $2.12M). Now, they still hold 1.48T $PEPE ($33.2M) farmed with #Sophon.Est. total profit: $43M (20x… https://t.co/uwjAobnxns pic.twitter.com/PodtPp0oq3
— Spot On Chain (@spotonchain) November 14, 2024
Recently, PEPE has been listed not only by Coinbase but also by Robinhood and the biggest cryptocurrency trading platform in South Korea, Upbit.
This resulted in PEPE soaring to the new all-time high. Over the past 24 hours, PEPE broke out and spiked by a crazy 101% as it rose from $0.00001286. By now, the frog-inspired meme cryptocurrency has rolled back by 16.08% and is changing hands at $0.00002174.
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PEPE, DOGE, WIF, BONK skyrocket
According to a recently issued report by on-chain data platform Santiment, PEPE is one of the three meme cryptocurrencies that have raked in the largest returns in the past week. PEPE leads the way here, soaring, as mentioned above. It was followed by Dogecoin with 96% returns.
Dogwifhat spiked by 67%, while Bonk (BONK) went up by 67%. Santiment warns that from a historical perspective, when meme coins start dominating the market, it indicates “greed and emotional trading.” Santiment warns, “Be cautious while memes are the main cryptocurrency topic of interest across X, Reddit, Telegram, 4Chan, and BitcoinTalk.”
