In a dramatic move, a large Pepe whale transferred a whopping 4.23 trillion Pepe tokens, equivalent to approximately $15.6 million, to Binance
A big whale Pepe made a big move, to transfer an astonishing 4.23 trillion Pepe tokens, equivalent to approximately $15.6 million, to Binance.
The development, which was highlighted by blockchain sleuth Lookonchain, came hot on the heels of Pepe listing on the world’s largest crypto exchange earlier today.
The substantial transfer of the whale has sparked a flurry of speculation that prices could crash in the near future.
The average cost to buy crypto whales for the tokens was $0.0000002535, indicating a potential profit of around $14.5 million based on the current price.
Lookonchain suggests that the whale may decide to sell after trading begins, keeping investors on their toes for a possible price change.
Despite the concern over the speculative nature of the token, Pepe saw a huge increase in value. According to data from CoinGecko, the meme-inspired cryptocurrency jumped 104.8% on Friday, taking its market capitalization to over $1.4 billion.
With his current ranking at 41, Pepe has caught the attention of investors and traders.
Lookonchain also noted that the same whale made a move towards TURBO tokens, buying 755 million of them, currently worth $605,000, with 432,000 USDC.
It remains to be seen if Pepe has more room to maneuver after posting some stunning gains over the past week.