Anonymous Whale Deposits $3.4 Million Worth of PEPE on Binance
CryptoNewsTerminal Staff09 Aug, 2024
Anonymous Whale Deposits $3.4 Million Worth of PEPE on Binance
On-chain data analytics provider Lookonchain analyzed a transaction where an anonymous whale transferred 3959.2 billion PEPE to Binance, a transaction worth approximately $3.4 million. The whale is estimated to have profited by $5.06 million (+199%) from investing in PEPE. PEPE, also known as the "Feels Good Man" frog, is a popular meme coin that has gained significant traction in the crypto community. Its recent surge in value has attracted the attention of whales, who are large investors that can significantly impact the market. The whale's decision to deposit such a large amount of PEPE on Binance suggests that they may be expecting the value of the coin to continue to rise. Binance is one of the largest and most popular cryptocurrency exchanges in the world, and it offers a wide range of trading options for users. By depositing their PEPE on Binance, the whale will be able to easily sell their coins if they choose to do so in the future. It is important to note that the cryptocurrency market is volatile, and there is no guarantee that PEPE will continue to rise in value. However, the whale's decision to deposit such a large amount of the coin on Binance is a sign of confidence in its future potential.
