Benzinga - Pepe Coin (CRYPTO: PEPE), a meme-inspired cryptocurrency, outperformed other popular meme coins such as Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) in the last 24 hours, in terms of market capitalization.
What Happened: At the time of reporting, PEPE is valued at $0.00000135, which means owning $1.35 can make someone a PEPE millionaire, with 1 PEPE equivalent to 740,740.74.
A whale withdrew 2T $PEPE ($3M) from #Binance 30 mins ago.The whale withdrew 3.94T $PEPE ($6.46M at that time) from #Binance on Jun 27 and Jul 5.
Then deposited 3.94T $PEPE ($7.06M at that time) to #Binance on Jul 14, the profit is ~$600K.https://t.co/lcyPKweum9 pic.twitter.com/KOYeFhdhHz
— Lookonchain (@lookonchain) July 23, 2023
Recent data has shed light on a notable whale transfer of PEPE tokens that coincided with the positive price trend.
Lookonchain, a tracking site, revealed that a Pepe whale recently initiated a substantial withdrawal of 2 trillion PEPE tokens from Binance. This withdrawal is estimated to be worth around $3 million.
See More: A Stay At The Floating Palace From James Bond's ‘Octopussy’
Why It Matters: Further information from Lookonchain highlighted the actions of this particular whale.
On two previous occasions, the whale withdrew 3.94 trillion PEPE tokens equivalent to $6.46 million at that specific time, with withdrawals made on June 27 and July 5.
Additionally, the whale deposited 3.94 trillion PEPE tokens, valued at $7.06 million at that time, on July 14, resulting in a profit of approximately $600,000.
Photo Courtesy: Shutterstock.com
Read Next: Bitcoin, Ethereum, Dogecoin Trade Mixed After Fed Resumes Rate Hikes: Analyst Warns King Crypto At High Risk Of Correction Post Halving
Join Benzinga’s Future of Crypto in NYC on Nov. 14, 2023, to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.