150 Billion PEPE Stun Biggest Crypto Exchange Binance
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Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. A Pepe (PEPE) whale has shocked the broader cryptocurrency community with its market activity. Lookonchain, an on-chain analytics platform, noticed and shared the transaction in a post on X. PEPE whale activity reflects market caution Notably, the whale deposited 150 billion PEPE tokens valued at $2.72 million into crypto exchange Binance. The development suggests that the trader likely might execute a stop-loss order. The whale intends to limit losses by selling the PEPE tokens when its price falls to a specific level. Related Interestingly, the whale had earlier, on Nov. 28, withdrawn the same amount from the crypto exchange. However, the 150 billion PEPE was worth $2.94 million. The whale action when the withdrawal occurred hinted at a holding move. Now, with PEPE’s price performance in significant decline, the whale’s deposit might mean it has decided to sell the asset. PEPE trades at $0.00001927 as of this writing, representing a 9.55% dip in the last 24 hours. The whale has suffered a loss of over $219,000 on PEPE tokens at the current market price. Analysts say it is, therefore, understandable to take a stop-loss action. This could mitigate further losses on the asset as its value plunges downward. Community reactions and lessons on market timing The development has triggered a reaction from the broader crypto community —…
Filed under: News - @ December 19, 2024 11:21 pm