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Whale Holding Memecoin Finally Sells, Making 976% Profit After Months of Waiting
A massive cryptocurrency whale has recently sold a significant amount of memecoin, reaping substantial profits after patiently holding onto it for months.
By:
Mete Demiralp
Updated:
6 hours ago
0
As the cryptocurrency market experiences a general upward trend today, it is worth noting that a whale has made a considerable profit from a popular memecoin.
According to Onchain data, a large PEPE whale deposited a substantial number of PEPE tokens into Binance. While it is not possible to determine definitively if the deposit was for selling purposes, it is highly likely considering that the whale had stored its tokens in a cold wallet for an extended period.
The aforementioned PEPE whale had initially purchased 365.96 billion tokens on the cryptocurrency exchange MEXC on December 13 and 16, 2023, which amounted to $494,000 at the time.
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Today, the Balina wallet deposited the same amount of PEPE tokens into Binance. However, this time the value of the tokens was $5.3 million. In other words, the whale wallet turned $494,000 into $5.3 million in less than six months.
The total profit earned by the Balina wallet amounted to $4.82 million, resulting in a profit rate of 976%.
Although the PEPE price has decreased by approximately 8% in the last week, it has witnessed an impressive 65% rise in the last month.
*This article does not constitute investment advice.
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