According to Onchain data, a large PEPE whale made a new move and made its impact felt on the price of memecoin.
According to data, a multisig wallet moved its 1.23 trillion PEPE to Binance. The value of this transaction for the whale was approximately $10.6 million. However, this action caused the price of PEPE to drop by approximately 5.2%. The altcoin has still not fully recovered from the impact of this decline.
The whale in question had been holding these PEPE tokens for only 3 days and closed his trade with a profit of 134 thousand dollars, which is a low amount compared to his capital. This shows that the whale made a profit of approximately 1.28%.
In another whale development, another wallet this time bought Fantom (FTM) token by selling Ethereum. Whale paid a total of $2.12 million in WETH and purchased 2.98 million FTM at $0.712. The whale in question made a profit of $1.67 million from the previous FTM transaction and the profit rate was 148%.
FTM is trading at $0.6926 at the time of writing this article.
*This is not investment advice.