#Whale dumps 549 billion PEPE#
Hot Topic Overview
Overview
Recently, a whale dubbed “smart money” has profited $4.92 million from PEPE's price swings over the past six months. Two hours ago, this whale withdrew 549 billion PEPE worth $8.86 million from Kraken exchange. Notably, this whale only deposited 561.8 billion tokens into the exchange yesterday. It's currently unknown whether they have sold all the withdrawn tokens or repurchased some. If the latter is true, the whale would have profited nearly 10%, about $1 million. Currently, the whale still holds PEPE worth $9.68 million.
Ace Hot Topic Analysis
Analysis
Recently, a whale address known as "smart money" withdrew 549 billion PEPE, worth $8.86 million, from the Kraken exchange. Notably, the address had deposited 561.8 billion PEPE into the exchange just yesterday. It is currently unclear whether the whale sold all the extracted PEPE or bought it back. If the whale bought it back, it would have made a profit of nearly 10%, or about $1 million. The whale currently holds PEPE worth $9.68 million. This event has sparked market speculation, with some believing the whale may be bottom-fishing ETH, while others believe it may be engaging in short-term arbitrage.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Giant whales may have bought the dip in PEPE price and profited through swing trading.
Giant whales may be engaging in arbitrage on Kraken exchange, buying low and selling high to profit.
Giant whale selling activity could cause short-term fluctuations in PEPE price.
Giant whales still hold a large amount of PEPE, indicating their long-term bullish view on the project.