💥 PEPE Whale Offloads 396 Billion Tokens: Sell Signal or Opportunity?
● A PEPE whale recently moved 395.92 billion tokens, valued at $3.4 million, to Binance.
● This move brings the whale's total profit to over $5.06 million.
● The last time this whale offloaded tokens, PEPE's price dropped by over 16%.
On August 9, 2024, on-chain analytics firm Lookonchain shared a post on X (formerly Twitter), capturing the crypto community's attention. The post revealed that a PEPE whale had deposited 395.92 billion tokens, worth $3.4 million, into Binance.
🔸 PEPE Whale Dumps 396 Billion Tokens
Despite this major sell-off, which occurred during the ongoing market recovery and PEPE's recent bullish breakout, the whale has still managed to generate a 200% return on investment, pocketing over $5.06 million in profits.
Interestingly, PEPE has just broken out of its consolidation phase and is currently retesting that level. The last time PEPE broke out, it saw a 180% surge in just 37 days, leading traders and investors to anticipate a similar movement this time around.
If PEPE can stay above the 200 EMA in the coming days, it could potentially climb 50% to reach the $0.0000127 level.
