Whale Moves 500 Billion PEPE to Coinbase, Signaling Strategic Profit-Taking

Whale gains $45 million profit after investing $2.04 million in PEPE tokens. Experts predict PEPE could reach $0.00009 by late 2024 amid breakout pattern.

A whale has made a massive profit-taking move by transferring 500 billion PEPE tokens to Coinbase, signaling a strategic exit from the meme coin.

The whale had initially invested around $2.04 million in PEPE tokens over a span of several months, acquiring a total of 2 trillion tokens. As the price of PEPE surged, the whale’s investment grew significantly.

According to blockchain analysis platform Lookonchain, the whale began buying PEPE tokens on May 6 and continued till September 10. During this period, the price of PEPE fluctuated between $0.000004 and $0.000006, presenting an entry point for the whale.

Now, with the recent transfer of a large portion of PEPE tokens to Coinbase, the whale appears to be cashing in on the meme coin's impressive gains. By moving the tokens to an exchange, the whale can easily sell them and withdraw the funds.

Despite the massive profit-taking move, the whale still holds a substantial amount of PEPE tokens. According to Lookonchain's analysis, the whale still has around 1.5 trillion PEPE tokens, which are currently valued at approximately $36 million.

This significant return highlights the potential profits that can be generated in the meme coin market, despite the inherent high risk. Meme coins are known for their extreme price volatility and can be influenced by online trends and hype.

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