One Pepe Coin Whale Liquidates Holdings as Another Opens $PEPE Ethereum Pool
Zach Anderson Sep 10, 2023 15:19
Whale 0x9da executed a significant swap of 452.911B $PEPE tokens for 194.31 Ethereum ($ETH), resulting in a profit of $216K. This follows the whale's initial accumulation of $PEPE tokens from the Huobi exchange. Pepe Coin (PEPE) hit its lowest price since its Binance listing, with its value plummeting to $0.00000082. The crypto market is tumultuous, with Bitcoin potentially dropping to $20,000.
Whale 0x9da's Significant Swap
In a notable transaction today, an early crypto buyer identified as 0x9da executed a significant swap of 452.911B $PEPE tokens for 194.31 Ethereum ($ETH) at a rate of $0.0000006961 per $PEPE, amounting to a total of $315K, according to SpotOnChain.
This move comes after the whale's initial accumulation of the $PEPE tokens from the Huobi exchange at an average rate of $0.0000002198, costing them approximately $99.55K on April 27, 2023. The recent swap resulted in an estimated profit of $216K, marking a 216% increase.
Source: Etherscan
Transaction details for the 0x9da swap are as follows:
Transaction ID (txid): 0xe69688c740916a67a417f33039d943aba1979245d758ce93b15e347ce46994ec
Address: 0x9dae76f6683d0d5a11c0ab4fb57d699ad4d78079
Whale 0x3ae's Liquidity Pool Creation
Just an few hours before the aforementioned transaction, another crypto whale, 0x3ae, established a liquidity pool. This involved a massive 5.71T $PEPE tokens, equivalent to $4.13M, and 508 Ethereum ($ETH).
Details of the 0x3ae liquidity pool creation are:
Transaction ID (txid): 0x603c844db097ba7e63c4f8027b2b9a99e894a2fe0a3dc493af10767e22dcdf23
Address: 0x3aea201a16969012955071296eC207a351EAdC9f
At the present ETH valuation, the Pepe coin stands at $0.0000007231. The exchange rate for PEPE to ETH is set at 11,240,157,480 $PEPE for every $ETH. Should Bitcoin's decline halt, the current Pepe price might offer profitability. However, if both BTC and ETH were to depreciate in the future, it would be strategic to go long on PEPE while simultaneously shorting ETH.
Pepe Coin Hits Lowest Price Today Since Binance Listing
Today, Pepe Coin (PEPE), inspired by the iconic Pepe the Frog meme, as reported by Blockchain.News, has hit its lowest price since its Binance introduction on May 5, 2023. After soaring to a high of $0.00000439, PEPE's value plummeted to $0.00000082 by June 15, mirroring Bitcoin's decline to $24,800. Today, the coin's trajectory took a steeper dive, registering an 8% decrease, punctuated by a startling 10% drop within just a minute.
This decline isn't isolated. The crypto market is on shaky ground, with looming predictions of Bitcoin potentially nosediving to $20,000. Adding to the market's jitters are unsettling events like the compromise of Ethereum Founder, Vitalik Buterin's Twitter, and security breaches on PePe X's social platforms. Given that many altcoins, including Pepe Coin, are built on the Ethereum blockchain, such incidents have a cascading effect.
Further muddying the waters are past allegations tied to Pepe Coin, from potential scams to insider trading. The unveiling of its previously anonymous founder, linked with a criminal past, has undoubtedly shaken investor trust. Amidst this tumult, the crypto community watches closely, as PEPE's future in this volatile market hangs in the balance.
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