Ethereum Memecoin $PEPE Surges 15% Amidst Whale Activity

Today, Ethereum memecoin $PEPE has emerged as one of the top daily gainers in the crypto market, boasting a significant 15% surge in its price.

According to on-chain reports, Whale 0x546 has made a notable move by withdrawing 331.3 billion PEPE tokens from Binance, totaling $2.24 million at a price of $0.00000675. This transaction marks the first instance of such a withdrawal by the whale, sparking intrigue within the crypto community.

What’s particularly intriguing is that Whale 0x546 shares the same Binance deposit address with Smart trader 0x1c6, known for their strategic moves in the market. Notably, Smart trader 0x1c6 made headlines on April 10, 2024, when they sold all UNI tokens before a significant price drop, resulting in an estimated profit of $6.99 million (+70.7%).

Whale 0x546 withdrew 331.3B $PEPE ($2.24M) from #Binance at $0.0₅675 an hour ago.

Notably, the whale shared the same Binance deposit address with Smart trader 0x1c6, who sold all $UNI before the price dropped on Apr 10, 2024, and realized an est. profit of $6.99M (+70.7%).… pic.twitter.com/s15dIii6rd

— Spot On Chain (@spotonchain) May 2, 2024

660 Billion $PEPE Withdrawn By These Two Whales 

Together, Whale 0x546 and Smart trader 0x1c6 have withdrawn a total of 660.7 billion PEPE tokens from Binance and MEXC, averaging at $0.00000692 per token. This move has incurred an estimated cost of $4.57 million over the past three days, indicating a significant investment in the $PEPE token.

Despite sharp drops observed in major tokens like BTC and ETH, the price of $PEPE has managed to remain in the green zone over the past 12 hours. This resilience amidst market turbulence suggests a strong bullish sentiment surrounding the $PEPE token, fueled in part by the strategic moves of prominent whales and traders.

Overall, the surge in the price of $PEPE, coupled with notable whale activity and market resilience, highlights the dynamic nature of the crypto market and the potential for significant gains within the memecoin sector. As investors continue to monitor developments, $PEPE’s performance serves as a compelling narrative in the ongoing evolution of the crypto landscape.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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