A cryptocurrency whale that has accumulated a large amount of PEPE altcoins in the past few days has transferred its entire cache to Binance, the world's largest cryptocurrency exchange by trading volume.
According to Etherscan data, the whale made several transactions and purchased 4.23 trillion PEPE tokens at 422 ETH ($871,000) and 200,000 USDC, worth about $156 million at current price. The average purchase cost of the whale was $0.0000002535 per token.
Whale then deposited all his PEPE tokens into Binance about 30 minutes ago.
As it is known, PEPE, one of the meme tokens on the agenda of the last period, was listed on Binance today along with another meme token, FLOKI.
If the whale sells its PEPE tokens at the current price of $0.00000368, it will make a profit of about $14.5 million and have a staggering 930% return on investment in a matter of days.
However, such a large sell order could also trigger a sharp price action for the PEPE token, which has risen more than 13,000% since its launch on April 20. The token claims to be a meme-based cryptocurrency inspired by popular internet character Pepe the Frog.
*Not investment advice.
