In a notable move, a whale identified by the short address 0x3ae deposited 3.42 trillion PEPE altcoins, equivalent to $3.99 million, on the OKX exchange.
The deposit was made at a price of $0.000001169 per PEPE token. PEPE is trading at $0.000001153 at the time of this writing.
Balina has been actively operating in the PEPE market for some time. Whale accumulated a total of 3.37 trillion tokens from OKX between July 15 and September 10, 2023, at an average price of $0.000001167. The estimated cost of this accumulation is approximately $3.94 million.
Whale raised 1.26 trillion tokens through direct purchases from OKX as well as providing liquidity through Uniswap.
With the last deposit, the whale deposited all 4.64 trillion PEPE, worth approximately $4.96 million, into OKX. The average price of these deposits was recorded as $0.000001069.
Based on the current price chart, it seems likely that the whale will close the token trade at a loss.
Interestingly, the price of the token has increased significantly recently, rising nearly 65% in the last 7 days. This price increase may have influenced the whale's decision to exit the market.
PEPE, one of the most popular memecoins of recent times, is trading at a level 73% lower than its all-time high price level.
*This is not investment advice.