A PEPE whale offloads 170.2 billion PEPE tokens for $1.97 million after holding for less than a year, making a $1.77 million profit.
A major transaction involving PEPE has caught the attention of the cryptocurrency community, particularly the smart money tracker Lookonchain.
The crypto surveillance resource disclosed that a PEPE whale liquidated 170.2 billion PEPE tokens for $1.97 million and realized a profit of $1.77 million. Per the disclosure, this activity occurred via the 1-inch decentralized exchange a few hours ago.
Considering this investor initially spent $200,000 last October to acquire the PEPE tokens, his return on investment amounts to a staggering 886% within a year.
A $PEPE Diamond Hand sold 170.2B $PEPE for 1.97M $USDC 1 hour ago, making $1.77M, with an ROI of up to 886%!
He spent only 200K $USDC to buy 170.2B $PEPE on Oct 26, 2023 and held it.
Address:https://t.co/CgRvoC8EF2 pic.twitter.com/mhMSbpHLCl
— Lookonchain (@lookonchain) July 25, 2024
PEPE Transaction Details
The sale involved two transactions on the 1inch exchange. In one transaction, the wallet address “0x674d…db9a” swapped 70 billion PEPE for $812,244 USDC. An earlier significant transaction from the address “0x589d…4587” involved swapping 100.2 billion PEPE for $1,159,035 USDC.
Further analysis reveals earlier smaller contract interactions and swaps involving USDC and PEPE tokens, possibly aimed at accumulating PEPE. For example, one transaction swapped $9,750 USDC for 8.28 billion PEPE, while another involved swapping $5,250 USDC for 4.46 billion PEPE.
It is important to note that the wallet address performing these transactions has a diverse portfolio. It currently holds 0.4436 ETH, valued at $1,393.91, and has total token holdings amounting to $1,906,049.27 across 123 tokens.
Profitability of PEPE Holders
The substantial profits the PEPE whale accrued underscore the general profitability trend among active addresses holding PEPE tokens. Data from IntoTheBlock reveals significant insights into active addresses holding PEPE tokens based on profitability. Notably, addresses holding PEPE purchased below the $0.000010 price point are profitable.
Meanwhile, those who bought PEPE at prices ranging from $0.000011 to $0.000013 are at break-even, while addresses holding PEPE purchased above the current price of $0.000012 are at a loss.
This indicates that most active addresses holding PEPE are profitable, given the current market conditions.
Whale Moves 9T Tokens
In a related event, a giant whale moved nine trillion PEPE tokens, valued at approximately $82 million, to the Bybit exchange earlier this month. This transfer notably occurred amid a 9.7% price increase for PEPE.
However, during this press, PEPE is trading at $0.00001141, recording an 11.38% decline in the past 24 hours and a 5% decline through the week.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
