A cryptocurrency whale has moved a significant amount of Pepe coins, worth around $4.4 million, from the Binance exchange. The whale, known as qianbaidu.eth, took out 506 billion Pepe tokens in one transaction.
This is not the first time qianbaidu.eth has traded Pepe, previously making a profit of around $7.34 million. The whale now holds 699.8 billion Pepe coins, with a floating profit of $164,000.
The large transaction has raised questions about the market’s direction. Pepe’s value has experienced notable peaks in recent years, including reaching $11 billion in December 2024. Some believe that the whale’s buying activity may signal a potential price increase for the coin.
However, it’s essential to exercise caution and conduct thorough research before making any decisions about buying or selling Pepe. Cryptocurrencies, particularly meme coins like Pepe, can be highly volatile. The whale’s actions are just one indicator of market trends, but they do not guarantee future prices.
Source: https://www.tradingview.com/news/newsbtc:f9ed8a9fb094b:0-whale-grabs-506-billion-pepe-is-a-price-explosion-near