PEPE Drops 20% From Peak as 660.7 Billion Coins Head to Binance 🐸📉
According to analytics on a mysterious whale moved a large quantity of PEPE meme coins to Binance earlier today. This action significantly pushed the asset's price downward, causing it to drop another 11% from its recent all-time high.
The whale transferred nearly one trillion PEPE to Binance. Specifically, an anonymous cryptocurrency trader sent a massive 660.7 billion PEPE coins to Binance several hours ago, as revealed by the tweet. This trader had bought these coins a month earlier.
Upon selling this PEPE, worth $9.01 million, the whale earned approximately $4.95 million, achieving a 52% return on investment in under a month.
Another analytics account, @spotonchain, highlighted that this transaction to Binance followed a 14% drop in PEPE’s price over the past 24 hours. They also noted that these coins were purchased not only on Binance but also on the major cryptocurrency exchange MEXC, with a total expenditure of around $4.57 million.
Overall, after reaching an all-time high of $0.00001718 on May 27, PEPE is now down more than 21%. The all-time high was likely driven by the recent approval of spot Ethereum ETFs by the American Securities and Exchange Commission. At the time of writing, PEPE is trading at $0.00001374.
