Despite the whale’s massive sales, PEPE has continued to show resilience.
After less than a month of immense profitability, whales of the popular meme coin PEPE seem to be locking in their gains.
Today, May 1st, on-chain analysis platform Spot On-Chain shared an interesting post on Twitter about a particular Pepe (PEPE) whale who has mastered the art of buying and selling PEPE just when market conditions are ripe.
??A $PEPE whale just swapped 3400B $PEPE to 925 $ETH ($1.8M) 6 hours ago, ROI is 1650x in 2 weeks.
➡️He bought 5421B $PEPE with just 1 $ETH via uniswap 16 days ago
➡️ Swapped 21.64B $PEPE to 3.5 $ETH via Uniswap on 24 Apr
➡️ Swapped 3400B $PEPE to 925 $ETH via Uniswap just now… pic.twitter.com/8gK538E45t— Spot On Chain (@spotonchain) May 1, 2023
According to the platform, the whale swapped 3,400 billion PEPE for 925 ETH valued at $1.8 million today after a staggering 1,650% return on investment in just two weeks. According to on-chain data, the whale first bought 5,421 billion PEPE with just 1ETH about 16 days ago. On April 24, the whale took out its first profit by swapping 21.64B PEPE to 3.5 ETH via Uniswap before its other bigger swap today.
Notably, to date, the whale has sold around 3,421 billion PEPE, representing about 0.814% of all PEPE tokens in circulation. This whale, however, still holds 2,000 billion PEPE with a value of $1.5 million.
More “Smart Money” Whales Exit PEPE
But this is not the only whale taking profits on PEPE. As the newest meme coin on the block continues gaining traction, other whales have also been profiting. On Sunday, on-chain analysis pundit “The Data Nerd” highlighted another whale continuously selling high for aggregate realized gains of $400,000. The whale reportedly ranks 8th in the top PEPE holder list, and his latest cash outcomes after a 7000% ROI. The whale now has 4.7 trillion PEPE coins worth around $2.7 million.
Amidst the meme hype, a large $PEPE Whale has decided to take profits on its holdings today.
It continuously sells high for a realized gain of 7000x ($400K)
It is the Top 8 Holder, with 4.7T left ($2.7M)https://t.co/rbws0dVodH pic.twitter.com/rVR8wUvplF
— The Data Nerd (@OnchainDataNerd) April 30, 2023
On Saturday, analytics firm Look on-chain also highlighted another whale who sold 100B PEPE for 21ETH, profiting about $40,000 at $0.0000004007. As per the firm, the same whale had bought 5.9 trillion PEPE tokens for 0.125 ETH four days earlier when the price of the meme coin stood at $0.0000001933. According to data from Etherscan, this whale currently holds $3.9 trillion PEPE, worth just over $4 million.
This guy sells $PEPE every time the price of $PEPE increases.
He sold 100B $PEPE for 21 $ETH($40K) at $0.0000004007 just now.
So far, he has sold 800B $PEPE (14% of all $PEPE) and got 117 $ETH ($221.5K), with an average selling price of $0.0000002744.https://t.co/tn1YWvldAi pic.twitter.com/FyBRzH2RSj
— Lookonchain (@lookonchain) April 29, 2023
Despite the whale’s massive sales, PEPE has continued to show resilience. The last 24 hours have particularly been favorable for PEPE, with the meme coin surging over 73% to trade at $0.00000103 at press time.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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