Anonymous Whale Loses Millions in Failed PEPE Trade
CryptoNewsTerminal Staff14 Aug, 2024
Anonymous Whale Loses Millions in Failed PEPE Trade
Massive PEPE Sell-Off by Whale Results in Estimated $2.3 Million Loss In a recent transaction, an anonymous whale has sold approximately 500 billion PEPE tokens for around $4 million. This action has raised eyebrows in the cryptocurrency community, given the whale's previous significant investment in PEPE. According to data collected by Lookonchain, the whale had initially purchased 7,503.8 billion PEPE tokens through the Kraken exchange, amounting to a total investment of approximately $8.34 million. Following the recent sale, the whale now holds an estimated 2,503.3 billion PEPE tokens, valued at approximately $2.02 million. This massive sell-off indicates a potential loss of over $2.3 million for the whale, highlighting the volatile nature of cryptocurrency trading. While the reasons behind this sudden selloff remain unclear, it serves as a reminder to investors of the risks associated with investing in highly speculative digital assets.
