Whale loses $3.5 million on PEPE: What happened?

A recent report from blockchain analytics firm Spot On Chain revealed significant losses for a major cryptocurrency investor with a significant amount of Pepe Coin (PEPE). The investor, known as a “whale” due to the size of his holdings, deposited 519 billion PEPE tokens, worth about $5.11 million, on Binance.

The exact reason for the sale remains unclear, but data shows investors suffered a loss of about $207,000, a 3.9% decrease from their initial investment. PEPE tokens were purchased before the cryptocurrency hit its all-time high in late May. If whales had sold during that peak, they could have made a potential profit of 3.47 million dollars.

Further analysis by Spot On Chain shows that investors may be facing additional financial difficulties. The report highlights unrealized losses totaling $6.68 million on other cryptocurrency holdings, including AAVE and YFI.

Meanwhile, the popular "frog" meme token continues to be valued at $0.0000092 per Pepe Coin. Since the beginning of this week, the digital asset has lost more than 23% and at its peak 36% - such prices have not been seen since early May, two months ago.

What fate awaits the "frog" meme token is an open question. However, there seems to be no hope for at least one major player when it comes to PЕРЕ.