Two Giant Cryptocurrency Whales Buy Big on This Memecoin in a Sluggish Market

While the cryptocurrency market is stagnant, two whales have invested a significant amount in a memecoin.

First, a crypto whale with a short address of 0xbe2 withdrew $2.47 million worth of PEPE tokens via Kraken. With this transaction, the whale’s total PEPE withdrawals via Kraken reached 582 billion tokens. The wallet purchased these tokens for an average price of $0.000008946.

The whale’s PEPE tokens are thought to be worth a total of $5.21 million. Despite this large stash, the whale wallet has not made any sales.

However, current market conditions have not been favorable for the whale. PEPE assets currently stand at $4.37 million, reflecting an unrealized loss of $842,000, or approximately 16.2%.

Similarly, the whale wallet with short address 0x689 recently withdrew 500 billion PEPE tokens worth $3.73 million from Kraken at a price of $0.000007445. Interestingly, this move came just three days after the same whale deposited the same amount at a higher price of $0.000008031.

This whale is currently whale 0x689, with a total holding of 5.57 billion PEPE tokens worth $750.33 million. However, the whale is facing a significant unrealized loss of $2.43 million, equating to a 20.2% drop from their initial investment.

*This is not investment advice.