Savvy PEPE Whale Profits Big: Deposits 217B Tokens Worth $4.54M to Kraken

A well-known PEPE whale, identified as 0xbe2, recently deposited 217 billion PEPE tokens, valued at $4.54 million, to Kraken. This move marks the second significant trade by the whale, who still holds a staggering 1.21 trillion PEPE tokens, worth $25.1 million, across two wallets. To date, the whale has generated an impressive $4.82 million in profit from this trade, reflecting a 19.4% return. Strategic Withdrawals and Deposits The whale’s second trade began with the withdrawal of 1.429 trillion PEPE tokens from Kraken at an average price of $0.00001737. The estimated cost of this withdrawal, which occurred between December 21, 2024, and January 3, 2025, was $24.8 million. On January 7, 2025, the whale deposited the first batch of 217 billion PEPE tokens back to Kraken at a higher price of $0.00002091. This transaction, valued at $4.54 million, realized an estimated profit of $767,000, highlighting the whale’s ability to capitalize on market movements. Previous PEPE Trade: $11.39M Profit This isn’t the first time this whale has profited significantly from PEPE. Between March 16 and December 20, 2024, the investor completed a series of trades involving 2.189 trillion PEPE tokens, earning an estimated $11.39 million in profit with a remarkable 57.1% return. A smart whale deposited 217B $PEPE ($4.54M) to #Kraken 5 hours ago, likely securing a $767K profit (+20%) again in just 17 days. The whale still holds 1.21T $PEPE ($25.1M) across 2 wallets, with another $4.05M in unrealized gains! Notably, earlier in 2024, this whale had made… pic.twitter.com/kQ8BCLfgN7 — Spot On Chain (@spotonchain) January 7, 2025 A Pattern of Precision The whale’s trading history reflects a calculated approach to maximizing profits while managing significant positions. With over $16 million in cumulative profits across both trades, this whale has cemented their status as a prominent and successful player in the PEPE market. Market participants will likely continue to monitor the whale’s moves closely, as their actions could influence token dynamics. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !

NullTx

You can visit the page to read the article.
Source: NullTx