By Tom Blitzer
Key Insights:
- Lookonchain, a blockchain monitoring service, has published smart money investors’ recent trading behavior.
- According to the report, smart money traders recently engaged in PEPE profit-taking deals.
- PEPE was trading at $0.000002248 at press time, down 12.27%.
Earlier today, Lookonchain, a company specializing in tracking blockchain activities, shared a Twitter thread that provided valuable insights into the latest Pepe (PEPE) trading activities favored by astute investors. The first high-volume trader discussed in the thread was identified as 0x9cd6, who recently made a significant purchase of 7.3 billion PEPE using 11 Ethereum (ETH). Based on estimates, the trade is believed to have a dollar value of approximately $20,861.
PEPE Whale’s profit-taking and purchasing spree
After selling 1.75 billion PEPE coins for 2,128 ETH, which translates to roughly $4.18 million in profit-taking, the same whale returned and resumed buying PEPE. In the latest transaction, using 1,374 ETH, the whale identified as 0x9cd6 purchased a whopping 936.5 billion PEPE tokens at a buying price of $0.000002922 per coin.
During this time, there were notable transactions in the cryptocurrency market involving the whale identified as 0x45cf. This whale sold significant PEPE and used the proceeds to purchase 227 million CAPY with 1 ETH. Additionally, a tweet revealed that qianbaidu.eth had recently purchased more PEPE after selling off their holdings in Turbo (TURBO). In the last 24 hours, the whale 0x45cf acquired a staggering 194 billion PEPE tokens using 271 ETH at $0.000002649 per token.
Concerning the TURBO trades made by the whale, the individual purchased 285 million TURBO by exchanging 382 ETH, subsequently selling the same amount for 246 ETH. This transaction resulted in a loss of approximately 136 ETH for qianbaidu.eth, equivalent to an estimated $291K.
Finally, it was reported that the address identified as whale 0x13b3 has recently offloaded 99 billion PEPE tokens for 256K USD Coin (USDC), fetching an average selling price of $0.000002585. Although this sale caused a significant price drop, the same whale address is believed to possess 400 billion PEPE tokens, currently valued at $1 million.
PEPE’s altcoin struggles amidst market volatility
According to the latest update from CoinMarketCap, PEPE’s price has seen a significant decline of 12.27%, and the altcoin is currently trading at $0.000002248. PEPE has also suffered losses of 1.89% against Bitcoin (BTC) and 2.56% against ETH. It is worth noting that PEPE is trading much closer to its 24-hour low of $0.00000216 than its daily high of $0.000003093.