#Whale dumps $8.86 million worth of PEPE#
Hot Topic Overview
Overview
A whale address, considered a "smart money" that has been profiting from the PEPE rally for the past six months, withdrawing $8.86 million worth of 549 billion PEPE tokens from Kraken exchange two hours ago. Notably, the whale address had just deposited 561.8 billion tokens into the exchange yesterday. It's unclear if the withdrawn tokens are from previous holdings or newly bought. If the latter, the whale would have profited nearly 10% from this operation, about $1 million. Currently, the whale address still holds $9.68 million worth of PEPE.
Ace Hot Topic Analysis
Analysis
Recently, a whale address considered to be “smart money” withdrew 549 billion PEPE tokens worth $8.86 million from the Kraken exchange. The address had made a profit of $4.92 million over the past six months through PEPE scalping and had only deposited 561.8 billion tokens into the exchange yesterday. It is unclear whether the whale is selling all the withdrawn tokens or buying back a portion of them. If the latter, the whale would have made a profit of nearly 10%, about $1 million. Currently, the whale still holds $9.68 million worth of PEPE tokens. This event has sparked speculation in the market about the future direction of PEPE. Some analysts believe that the whale's actions could signal a further decline in PEPE prices, while others believe that the whale may be buying the dip in PEPE. Ultimately, the price movement of PEPE will depend on overall market sentiment and investor confidence in the project.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
A whale selling PEPE could be for profit-taking, as the address has profited $4.92 million from PEPE's price fluctuations over the past six months.
The whale selling PEPE could also be for bottom fishing ETH, as the address deposited 561.8 billion tokens into an exchange before selling PEPE, which may be waiting to buy ETH after its price drops.
The impact of whale selling PEPE on PEPE's price is still unclear, as the address still holds $9.68 million worth of PEPE, which may be only partial profit-taking.
The whale's trading behavior may suggest that PEPE's price may fluctuate in the short term, and investors need to carefully observe market changes.