Crypto Market News: Cashing in on the latest memecoin craze in the crypto market, a Pepe Coin (PEPE) whale accumulated the coin in big volumes in exchange for all of his cryptocurrency holdings. The memecoin was launched on April 18, 2023, but it really saw massive demand only in the last one week. In the recent days, several crypto exchanges listed many meme coins, out of which PEPE shot up in huge numbers.
Also Read: US SEC Asked To Reply In 10 Days To Coinbase Complaint
Meanwhile, the crypto market recovered slightly from recent losses after the US Federal Reserve announced a 25 bps target rate on expected lines. The Bitcoin price rose by over 2% in the last 24 hours, rising hopes of a jump above the $30,000 level.
Whale Exchanges All His Crypto For PEPE
On Thursday, on chain data showed that a crypto whale exchanged almost all assets for $PEPE Coin. Interestingly, the trades, which were made around 15 hours ago, cumulatively resulted in over $1 million worth profits.
“The whale exchanged 20.62 $WBTC worth $590,000, 17 billion $CULT worth $90,000, 44,194 $UNI worth $235,000 and 19.96 $ETH worth $37,000 for 1.72 trillion $PEPE worth $2.19 million currently.”
Lookonchain informed that the buying price of $PEPE for the whale was ~$0.0000005533 and made a profit of approximately $1.23 million.
Also Read: OpenSea Ex-manager Convicted Of Money Laundering In NFT Insider Trading
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
