The on-chain analysis platform, Lookonchain, shared a post on Twitter yesterday about a particular Pepe (PEPE) whale and his habits during certain market conditions. According to the post, this whale has historically sold PEPE every time there was an increase in the meme coin’s price.
Yesterday, this whale sold about 100 billion PEPE for 21 Ethereum (ETH), which is worth about $40k. He had sold his PEPE while the meme coin was worth approximately $0.0000004007. On April 19, Lookonchain reported that this same whale spent 0.125 ETH to buy 5.9 trillion PEPE four days earlier.
The price of the meme coin stood at $0.0000001933 at the time the purchase was made, which means the whale would have made a $1.14 million profit if he sold. So far, this whale has sold about 800 billion PEPE, which is 14% of all PEPE. He ended up receiving 117 ETH, worth $221.5k, at an average selling price of $0.0000002744.
PEPE price (Source: CoinMarketCap)
Despite the whale selling a big chunk of his holdings, the last 24 hours have been exceptionally kind to PEPE. CoinMarketCap indicates that the meme coin is currently trading hands at $0.0000005457 after a price increase of 69.25%.
This allowed PEPE to strengthen against both Bitcoin (BTC) and Ethereum (ETH) as well by about 69.67% and 69.10% respectively over the last day. Furthermore, the crypto’s 24-hour trading volume saw a more than 200% increase since yesterday, and currently stands at $128,133,755.
The meme coin’s performance over the last day has done wonders for its weekly performance as PEPE is now up 62.04% over the last seven days. PEPE did, however, experience a loss of more than 8% over the last hour alone.
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Source: Cryptocurrency - investing.com
