Earlier today, an anonymous whale transferred a significant amount of PEPE meme coins to Binance, causing the asset’s price to drop. The whale moved approximately 660.7 billion PEPE coins, which pushed the price down by another 11% from its recent all-time high.
<h2>Whale's Profitable Move</h2>
According to the analytics X account @lookonchain, the whale had purchased these PEPE coins a month ago. The total value of the transferred coins was $9.52 million. Upon selling, the whale made a profit of approximately $4.95 million, achieving a 52% return on investment in less than a month.
<h2>Market Reaction and Price Impact</h2>
[embed]https://twitter.com/lookonchain/status/1796084144155271414[/embed]

The massive sale had a significant impact on <a href="https://www.cryptoknowmics.com/news/new-meme-coin-launch-rocky-surges-past-20m-market-cap-in-3-days-defying-the-market-trends/" target="_blank" rel="noopener">PEPE’s price</a>, which had already fallen 14% over the past 24 hours. The analytics account @spotonchain noted that these coins were bought not only on Binance but also on MEXC, another major cryptocurrency exchange, for approximately $4.57 million.
<h2>PEPE’s Price Decline</h2>
Since reaching an all-time high of $0.00001718 on May 27, PEPE has plunged by more than 21%. This peak was likely influenced by the U.S. Securities and Exchange Commission's recent decision to approve spot Ethereum ETFs, which had created a positive sentiment in the market. As of now, PEPE is trading at $0.00001374.
<h2>Conclusion</h2>
The recent whale activity highlights the volatility in meme coin trading, with large transfers significantly impacting prices. As PEPE continues to fluctuate, investors remain cautious about the potential for further market movements. The whale's profitable exit underscores the unpredictable nature of meme coins and the rapid shifts they can undergo.

<em><strong>Disclaimer: </strong></em>The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Whale Transfer Triggers 21% Drop in PEPE After All-Time High

A whale's massive PEPE transfer to Binance caused a 21% price drop from its recent peak, highlighting volatility in meme coin trading.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

Whale Transfer Triggers 21% Drop in PEPE After All-Time High

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