A significant transaction involving PEPE tokens sees a whale making substantial profits, highlighting the volatile nature of meme coins.
Points
- Whale withdraws 400 billion PEPE tokens, worth $4.22 million, to Binance.
- The initial investment was valued at $2.55 million.
- Total profit from the transaction amounts to $5.85 million, a 230% ROI.
- Large sell-offs by significant holders can impact market volatility.
A whale recently deposited 400 billion PEPE memecoins worth $4.22 million to Binance to book profits. This whale initially withdrew 795.92 billion PEPE tokens from Binance on March 1, valued at $2.55 million at that time. Currently, the whale holds 395.93 billion PEPE tokens, worth $4.18 million. This transaction resulted in a total profit of $5.85 million, achieving a Return on Investment （ROI） of 230%.
Significant sell-offs by large holders, or whales, often lead to increased market volatility. In this case, the whale’s massive withdrawal has raised concerns about potential selling pressure in the PEPE market. The current price level of $0.00001055 is crucial as it frequently serves as a solid support level.
The relative strength index （RSI） is down to 54, indicating a slowing trend but not yet reaching oversold levels. If PEPE cannot maintain its gain above the 50 EMA, further price declines and increased volatility may ensue. However, if it can hold above this level, PEPE may find some stability and attract buyer interest at these lower levels.