The post PEPE whale reaps 8x profit amidst new ATH: Should you sell as well? appeared on BitcoinEthereumNews.com.

Pepe Coin reached a new ATH, with a whale earning a $14 million profit. Market analysis and technical indicators suggested a potential short-term retracement. In the world of crypto meme coins often provide some of the most dramatic and interesting market movements, and Pepe [PEPE] is no exception. Recently, this frog-themed cryptocurrency has seen a remarkable surge in its price, reaching a new all-time high (ATH) of $0.00001151.  Over the past week, this increase has accounted for a 50% rise, with a 5.1% climb in just the last 24 hours. This price movement has captivated the attention of investors and traders alike, marking a significant moment in the coin’s history. Turning $1.5 million into $14 million with Pepe This surge is not just about price increments; it involves substantial profits for certain market players, particularly the whales. One such whale, identified by the on-chain analytics platform Spotonchain, has turned a substantial profit in an impressively short time.  Initially investing $1.56 million USDT to acquire 1.40 trillion PEPE between December 2023 and February 2024, this investor sold 140.4 billion PEPE for 1.75 million DAI at the peak of this rally. What remains — 1.26 trillion PEPE — is now valued at $13.9 million, all profit. The strategies employed by these large-scale investors are often a bellwether for the market. The whale’s approach to buy low, sell high, and retain a significant amount of the asset showcases a bullish sentiment on the future of Pepe Coin.  The data revealed that this particular whale transformed a $1.56 million investment into a potential $14 million windfall in just three months. This kind of return is emblematic of the volatility and opportunity within the meme coin sector of the cryptocurrency market. Furthermore, the overall trading volume and open interest in Pepe Coin have surged alongside…

---

Filed under: News - @ May 16, 2024 4:22 pm