A large cryptocurrency investor, known as a whale, recently transferred 366 billion $PEPE tokens, valued at approximately $5.31 million, to Binance, according to data from SpotOnChain. This move resulted in a profit of $4.84 million for the whale, representing a 985% return on their initial investment.
Interestingly, the whale used the same deposit address as two other savvy traders who previously made a profit of $4.46 million, a 98% return, from $PEPE transactions just five days ago.
The first trader, identified on May 30, deposited 660.71 billion $PEPE tokens, worth $9.01 million, on Binance during a 14% price dip. Despite withdrawing these tokens from Binance and MEXC earlier in the month, incurring an estimated cost of $4.57 million, this strategic move led to a net profit of $4.44 million, a 49.3% increase in less than a month.
Following suit, the second trader also invested 660.71 billion $PEPE tokens, equivalent to $9.01 million, on Binance on May 2, after a 14% price decrease in $PEPE.
These transactions highlight the potential for significant gains in the volatile cryptocurrency market. As more individuals become interested in $PEPE, the strategies employed by these smart traders offer valuable insights on how to capitalize on market fluctuations.
Tags: Binance, PEPE