PEPE Whales Move $21 Million Worth Of Coins  Here Are The Destinations

On-chain data shows PEPE whales have moved large amounts of the memecoin during the past day. Here’s where these tokens have been heading. PEPE Whales Have Been Active On The Network Today According to data from the cryptocurrency transaction tracker service Whale Alert, two large PEPE transactions have occurred in the space of a few hours during the past day. Both of these moves are of a scale that’s typically associated to the whales, humongous entities that can carry some influence in the market thanks to their ability to make such large transfers. Related Reading: Bitcoin To Reach Escape Velocity? Analyst Makes The Case Because of their position on the network, their moves can be worth watching, as they may end up reflecting on the price of the cryptocurrency. As for how exactly the asset may be impacted by the transfers of these investors can come down to what they intended to achieve with the moves. It can be hard to say about any exact motive, but the details of the transactions on the blockhain can sometimes provide hints about the context surrounding it. Below are the details of the first PEPE whale transfer from the past day: Looks like this massive transfer on the Ethereum blockchain took a fee of just $1.14 to go through | Source: Whale Alert As is visible, the sending address in the case of this PEPE whale transaction was an unknown wallet, meaning that it was unattached to any known centralized platform like an exchange. Such wallets are usually the investors’ personal, self-custodial addresses. The receiving address, on the other hand, does have a platform affiliated to it: the cryptocurrency exchange Binance. Thus, it would appear that the whale moved 1,238,332,920,144 PEPE (worth over $10.5 million at the time the transfer went through) from their personal wallet to the custody of the exchange. Transfers of this type are known as exchange inflows. The investors make exchange inflows whenever they want to make use of one of the services that these platforms provide, which can include selling. As such, exchange inflows can end up being bearish for the price. If the whale, in the current case, indeed made the deposit to sell, then PEPE could naturally be negatively impacted, given the large scale of the transaction. Fortunately for the investors of the meme coin, though, the second transaction from today is actually the exact opposite of this transfer; it’s an exchange outflow. The second large PEPE transaction that took place on the network in the past day | Source: Whale Alert As displayed above, this PEPE whale moved coins from Binance to an unknown wallet through this transaction. Investors generally transfer to personal addresses when they plan to hold in the long term, as it’s safer to do so outside the custody of central entities. Thus, it’s possible this whale plans to HODL these coins. Interestingly, the amount involved in this move, 1,241,850,000,000 PEPE ($10.5 million), is quite similar to the exchange inflow. Given that the same exchange is also involved in both, it’s possible that the same whale may in fact be responsible for the both of them. Related Reading: Bitcoin Relative Open Interest Lowest Since Feb, Analyst Says Hard To Be Bearish Though, since the addresses don’t quite match, it’s still uncertain. Either way, the fact that an equal-sized exchange outflow has occurred mere hours after should be able to balance out any bearish effects arising out of the inflow, at least in theory. PEPE Price At the time of writing, PEPE is floating around the $0.000008445479 mark, up more than 21% over the past week. The price of the asset appears to have gone up over the last few days | Source: PEPEUSD on TradingView Featured image from Abhi Verma on Unsplash.com, chart from TradingView.com

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Here Are The 3 Crypto Tokens That Earned A Trader $42 Million Profit In One Year

In cryptocurrency trading, remarkable success stories often emerge, showcasing the potential for significant returns. One such story is that of an anonymous crypto trader who recently managed to turn a portfolio of $23 million into $65 million over the course of a year, according to insights from Lookonchain, a crypto analytics platform. This $42 million profit highlights the traders smart money move in the volatile crypto market. The trader leveraged strategic investments in tokens such as PEPE, ONDO, and BEAM to achieve substantial gains. Related Reading: Tiny Pepe, Big Dreams: Memecoin Explodes, Eyes Dominance In The Dog House Maximizing Returns Through Precise Market Timing This traders journey began with a strategic crypto investment in PEPE, which alone yielded a return of $60 million. The trader demonstrated a deep understanding of market trends and token potential by capitalizing on market timings and price fluctuations. Notably, the trader’s investment in PEPE resulted in a 1203% return in gains. Initially investing 2,434 ETH (valued at approximately $5 million) to acquire 3.97 trillion PEPE, the trader sold 125 billion PEPE for 350 ETH, or around $1.27 million, at peak prices. The remaining holdings in PEPE were valued at $56.43 million, according to data from Lookonchain. What a smart trader! In just 1 year, his portfolio grew from $23M to $65M, earning $42M! – Made $60M(+1203%) on $PEPE! – Made $5.8M(+288%) on $ONDO! – Made $1.85M(+72%) on $BEAM! 1/ Let’s dig into his trades. pic.twitter.com/ahSmmwsJIz Lookonchain (@lookonchain) May 24, 2024 In addition to PEPE, the trader diversified their crypto portfolio by investing in ONDO and BEAM, each offering different returns and market behaviors. The investment in ONDO resulted in a $5.8 million profit with 288% return on investment (ROI), showcasing effective diversification and asset selection strategies. While BEAM provided the least returns among the three, it still contributed positively to the trader’s portfolio. An initial investment led to a 72% ROI, which, although smaller relative to PEPE and ONDO, demonstrates the importance of portfolio diversification. It is worth noting that such diversification in crypto helps balance the risks and enhance the overall stability of investment returns across different market conditions in the crypto market. The 3 Crypto Tokens Performance Overview Among the three tokens the trader utilizes to secure substantial returns on investment, PEPE has emerged as the leading performer, followed by ONDO and BEAM. Recently, PEPE has achieved notable milestones, ascending to new all-time highs. Over the last week, the asset has experienced a surge of over 40%, and an additional 4% increase in the past day, reaching a new peak at $0.00001526. Despite this recent uptick, PEPE’s value has receded by 6.8% from its highest point, now trading at $0.0000144. Meanwhile, ONDO marked a new all-time high earlier today at $1.15 but has since retracted by 2.7%, with its current price at $1.12. This represents a substantial 15.8% increase within a single day, cementing a week-long upward trend that has seen the token’s price climb by nearly 20%. Related Reading: Ondo Finance Joins BlackRock Tokenized Fund As Inflows Surpass $160M BEAM, however, has shown more modest gains compared to the other two. Over the past day and week, it has recorded increases of 1.5% and 7.9%, respectively. Currently, BEAM is trading at $0.02736. Notably, this marks a significant drop of approximately 38% from its early May high of $0.04416, indicating less volatility and smaller gains than its counterparts. Featured image created with DALL·E, Chart from TradingView

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GameStop Stock And Wolverine Memecoins Explode As Roaring Kitty Returns To The Spotlight

GameStop, the video game retailer that took Wall Street by storm in 2021, has once again become the talk of the town as its share price surges 100%.  Fueling this rally is the return of the influential social media figure Keith Gills “Roaring Kitty.” After a long hiatus, Roaring Kitty’s recent activity on social platforms, including an image and video, has ignited excitement among investors and triggered a renewed frenzy for GameStop’s meme stock and the emerging world of memecoins.  GameStop Memestock Frenzy The meme-stock phenomenon gained widespread attention in 2021 when cash-rich investors pumped up the stock market and bet against short-selling hedge funds.  Keith Gill’s “TheRoaringKitty” account and the subreddit WallStreetBets played a pivotal role in the meme stock frenzy, driving stocks like GameStop and AMC Entertainment to surge over 1,000% by the end of the same year.  While some early investors reaped rich returns, hedge funds such as Gabe Plotkin’s Melvin Capital Management suffered significant losses, leading to closures. Related Reading: Investment Firm Makes Bitcoin Its Strategic Reserve Impact On Price According to Bloomberg, short sellers betting against GameStop initially enjoyed gains in the year’s first four months. Still, the volatile nature of meme stocks quickly erased those paper gains. Per the report, skeptics were up an estimated $400 million from January to April before slipping into the red by Monday morning. The percentage of GameStop shares sold short relative to those available for trading has remained at approximately 24%, a relatively high level for a typical company but significantly lower than the 140% levels witnessed during the 2021 mania.  As GameStop’s shares gained momentum, the cost to bet against the company increased. Recent data from S3 indicates borrowing costs exceeding a 10% annual financing fee range. Roaring Kitty’s Ripple Effect Roaring Kitty’s influence extended beyond GameStop, as Wolverine-themed memecoins flooded various blockchains. In response to a social media post featuring a video of Marvel superhero Wolverine, more than 30 new tokens were launched on platforms like Ethereum and Solana, as data by Dextools shows.  Notably, the newly minted “Roaring Wolverine” token on the Ethereum blockchain experienced an astonishing 80% surge within hours of its release. Related Reading: Is The Bitcoin Bottom In? Analyst Reveals Key Price Levels To Watch Furthermore, the memecoin market has witnessed a notable resurgence, with tokens such as Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF), Floki Inu (FLOKI), and Bonk Inu (BONK) recording significant gains, according to CoinGecko data.  For instance, PEPE, the market leader, surged by 15% in the past 24 hours, complementing its 20% uptrend over the previous week. It reached a new high of $0.00001077 during early Monday trading. Ultimately, GameStop’s meme stock resurgence, fueled by the return of Roaring Kitty, inflicted substantial losses on short sellers of the meme stock on Monday.  The impact of Roaring Kitty’s social media presence has extended to the memecoin market, with several Wolverine-themed tokens experiencing significant surges.  Featured image from Shutterstock, chart from TradingView.com

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69% Of PEPE Holders Left In Profits After 26% Plunge

On-chain data shows the percentage of the PEPE investors currently in the green has fallen to 69% after the 26% plunge the memecoin has seen in the past week. 69% Of All PEPE Addresses Are Carrying Some Gains Right Now In a new post on X, the market intelligence platform IntoTheBlock has posted an update on how the investor profitability is looking for the memecoin PEPE currently. Related Reading: Bitcoin Long-Term Holders Slow Down After 700,000 BTC Selloff, Reversal Sign? The analytics firm’s metric gauges whether a holder is in profit or not by reviewing their address’s on-chain history. Based on when the wallet acquired the coins, the indicator calculates the investor’s average cost basis using the spot price of the asset at the time of those purchases. If the current spot value of the cryptocurrency is higher than this average cost basis for any address, then that particular investor is carrying net gains currently. IntoTheBlock categorizes such addresses to be “in the money.” Similarly, investors with a cost basis higher than the latest price are considered “out of the money.” Naturally, the two values being exactly equal would suggest the holder is just breaking even on their investment or is “at the money.” Now, here is the data shared by the analytics firm that shows how this investor breakdown looks like for PEPE at the moment: The profit-loss status of the investors owning the memecoin | Source: IntoTheBlock on X As is visible above, 69% of the total addresses holding PEPE have their cost basis higher than the current spot price of the coin, while 27% are in losses. 4% of the investors are sitting on their cost basis right now. This profitability ratio isn’t that high, as, for example, 89% of Bitcoin investors are currently in profit, according to IntoTheBlock data. The reason behind the lower profits for the memecoin is that its price has seen a steep drawdown recently. Historically, the addresses in the green have been more likely to sell to harvest their gains. As such, when the market profit-loss balance is overwhelmingly towards profits, a mass selloff can occur. Naturally, this means the chances of a top being hit increase with increasing investor profits. However, a low percentage of investors being in profits can be conducive to bottoms forming, as profit-selling exhausts at these levels. Related Reading: Bitcoin Has Next Major Demand Zone At $56,000: Brace For Impact? At present, PEPE is neither dominated by green investors nor red ones. In bull runs, however, profitability levels generally remain higher, so any cooldown can help prices rebound. Thus, the fact that investor profitability has returned to the 69% level for the memecoin could be a sign that a bottom is close if the bullish regime has to continue. PEPE Price PEPE has returned to the $0.0000050913 mark after having declined more than 26% over the last seven days. The chart below shows the memecoin’s performance over the past month. Looks like the price of the coin has witnessed a steep decline over the last few days | Source: PEPEUSD on TradingView Featured image from Shutterstock.com, IntoTheBlock.com, chart from TradingView.com

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PEPE Preparing For A 54% Move? Analyst Thinks So

An analyst has explained how a PEPE daily close outside of a certain price range could lead its value to go on a rally of 54%. PEPE Symmetrical Triangle May Hint At The Next Move For The Memecoin In a new post on X, analyst Ali discussed the recent trend forming in the PEPE price. [...]

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PEPE Coin Price Forecast: Will PEPE’s Recent Pump Lead to Further Gains? Expert Analysis

In recent weeks, PEPE has seen a significant increase in value, leaving many investors wondering if this trend will continue or if it’s a temporary [...]

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Pepe Coin Continues to Slide Despite the Ripple Ruling. Can the Frog Bounce Back?

Pepe Coin (PEPE) has slumped 16% since a high on July 14 and it topped DEXTools’ Hot Pairs List for a while in the past [...]

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Meme-Meister Pepe Coin Had A Strong Saturday. What’s Next?

Pepe Coin (PEPE) had a strong Saturday, rising 10% despite the waning bullish influence of Ripple (XRP)‘s landmark partial victory in the securities laws violation [...]

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Crypto trader turns $27 into $52M with savvy Pepe token investment

Despite having no intrinsic value, memecoins have created many new millionaires among crypto investors.

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PEPE2.0 Is Hot On The Heels of Pepe, Reasons Why Thug Life Might Be A Better Option

A fresh wave of digital assets has emerged in the cryptosphere, captivating investors with humor, creativity, and community orientation. Memecoins, the latest trend in the [...]

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