On September 27, iCrypto reported an unusual surge in $PEPE purchases from Smart Dex Traders, spurring a quick 30% rise in the token’s value.
Following this jump, $PEPE pulled back to test a key support level and has since traded sideways for nearly a month.
In the last two days, however, $PEPE has shown a slight rebound, rising about 20%. During this period, Smart Dex Traders accumulated an additional 91.61 billion $PEPE tokens, valued at $1.23 million, at an average price of $0.00001058.
After a five-month hold, a whale known as “PEPE Band Winning Rate 100%” has managed to turn a profit. Just minutes ago, this whale deposited $2.42 million worth of $SHIB and $1.46 million in $PEPE to Binance. Should they decide to sell, this move would yield a profit of $567,000.
Here’s a snapshot of this whale’s current standing since June 1:
– PEPE: 613.8 billion tokens were initially acquired at an average price of $0.00001331. With today’s rate at $0.00001451, the position currently boasts a floating profit of $736,000.
– SHIB: 189.2 billion tokens were bought at $0.00002343 each. With the current price at $0.0000292, this position now holds an unrealized gain of $1.092 million.
As $PEPE’s price hovers, Smart Dex Traders and whales alike seem poised to capitalize on the market’s next move, suggesting that further volatility may be ahead for $PEPE holders.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.