A big whale recently moved a huge amount of PEPE tokens, a meme coin, out of a big crypto exchange. This happened around the same time the price of the token went up.
Analysts think the investor bought these PEPE tokens earlier when the price was lower and sold them for a big profit. One person who invested in the coin early made a ton of money. However, some analysts are worried that the coin’s price could go down a lot in the future as with other meme coins.
SEC’s Ether Approval Fuels PEPE’s Market?
The big investor likely bought these tokens earlier for cheap and cashed out for a big profit when the prices surged.
News about the possibility of the government approving a new type of investment for cryptocurrency (Ether ETFs) caused the whole crypto market to jump in value by over $200 billion. This news made investors excited.
One person who invested in this meme coin earlier made a ton of money (over 740,000% gain) because they bought in for just $460 and cashed out for around $3.4 million!
Some experts are worried that the price of PEPE, like other meme coins, could crash in the future because the prices might be too high right now.
Whale’s Movement for PEPE Uptrend
Investors struck gold with a funny meme coin, making a small investment of just over $460 when PEPE first launched turned into a whopping $3.4 million. This price jumping is catching the eye of crypto experts. One analyst likes the token because of it’s popular and has a lot of trading, but another worries the price is too high right now and could crash. Be careful if you’re thinking about buying meme coins!
Some investors turned a tiny investment into a massive win with a memecoin. They only put in a little over $460 when this meme coin first came out now that small investment ballooned to a whopping $3.4 million.
However, the value of cryptocurrencies is largely based on speculation rather than concrete fundamentals. Future prices are unpredictable and highly susceptible to market sentiment. One should do their own research before investing.
