Pepe Coin [PEPE], the Ethereum-based meme coin, has captured the attention of the crypto-verse with its remarkable ascent. It managed to hit an unprecedented high of $0.00001422 on May 22, 2024. Within a mere 24 hours, it soared by over 26% solidifying its position as one of the market’s top performers. This surge is largely attributed to the mounting excitement surrounding the potential introduction of a spot Ether ETF, igniting fervor and driving up prices, particularly in meme coins like PEPE.
Whales Seize the Opportunity
As retail investors succumb to the Fear of Missing Out [FOMO], astute traders have seized the opportunity. On-chain data reveals that at least three shrewd traders have executed lucrative trades, capitalizing on the influx of retail investment into the market.
An early investor in PEPE made a strategic move by depositing their entire holdings of 182.9 billion PEPE, valued at $2.53 million, into a Finance account. This holding originated from a larger purchase of 324.9 billion PEPE garnered last year for a mere $462. In total, this savvy investor realized profits going beyond $3.4 million.
Credit: Source link