Pepe Coin (PEPE) \'Whale\' Loses $207K After Dumping 519B Tokens on Binance

A recent report from blockchain analytics firm Spot On Chain has revealed a significant loss for a major cryptocurrency investor with a significant amount of Pepe Coin (PEPE).

A recent report by blockchain analytics firm Spot On Chain has revealed a major cryptocurrency investor, known as a "whale" for their large holdings, has sold a substantial amount of Pepe Coin (PEPE) at a loss.

The investor had earlier deposited 519 billion PEPE tokens, valued at about $5.11 million at the time, on Binance. The tokens were purchased before the cryptocurrency hit its record high in late May. If the whale had sold during that peak, they could have made a potential profit of $3.47 million.

However, the data suggests that the investor sold the PEPE tokens at a loss of about $207,000, a 3.9% decline on their initial investment. The specific reasons for the sale are not known.

Further analysis by Spot On Chain suggests that the investor may be facing broader financial difficulties, with unrealized losses totaling $6.68 million on other cryptocurrency holdings, including AAVE and YFI.

Meanwhile, the popular "frog" meme token continues to be quoted at $0.0000092 per Pepe Coin. Since the beginning of this week, the digital asset has lost more than 23%, and at the peak, all 36% — such prices have not been seen since the beginning of May, two months ago.

It remains to be seen what fate further awaits the "frog" meme token, but there seems to be no hope for at least one major player when it comes to PEPE.

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