#Whale offloads $8.86 million worth of PEPE.#
Hot Topic Overview
Overview
A whale, considered a "smart money" that made $4.92 million from PEPE swings in the past six months, withdrew 549 billion PEPE worth $8.86 million from Kraken exchange 2 hours ago. Notably, the whale deposited 561.8 billion tokens into the exchange yesterday. It's unclear if the whale has sold all the withdrawn tokens or bought back some. If the latter is true, the whale would have made a profit of nearly 10%, about $1 million, by buying low and selling high. Currently, the whale still holds $9.68 million worth of PEPE.
Ace Hot Topic Analysis
Analysis
A whale, considered "smart money" that profited $4.92 million from the PEPE rally in the past six months, withdrew 549 billion PEPE worth $8.86 million from Kraken exchange two hours ago. Notably, the whale had deposited 561.8 billion tokens into the exchange yesterday. It remains unclear whether the whale is selling all the withdrawn tokens or buying them back. If the whale is buying them back, it will profit about $1 million as it sold at $0.0000178 and bought back at $0.00001613, earning nearly 10% profit. Currently, the whale still holds $9.68 million worth of PEPE. The event sparked market speculation about the future direction of PEPE. Some analysts believe that the whale's divestment may signal a price pullback in PEPE, while others believe that the whale's repurchase indicates its bullish view on PEPE's future.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
A whale's sell-off of PEPE could be profit-taking, as the address previously made $4.92 million in profits from PEPE's price swings.
The whale's sell-off of PEPE could also be a bottom-fishing operation, as the address deposited a large amount of PEPE into the exchange just a day before the sell-off.
The impact of the whale's sell-off of PEPE on the price of PEPE is still unclear, but the address still holds $9.68 million worth of PEPE, indicating that it remains optimistic about the future of PEPE.
The whale's sell-off of PEPE has sparked market attention to the price of PEPE, but there is still disagreement in the market about the future direction of PEPE.