PEPE is a cryptocurrency that has attracted attention with price increases since its launch last April. However, it has experienced significant price fluctuations recently. Some investors made significant profits. Others, on the other hand, had to sell at a loss. Amid market turmoil, PEPE is showing signs of renewed interest, with Lookonchain reporting new purchases from two newly created wallets and a high-value investor who previously profited from PEPE.
Two new wallets inject $801,000 into PEPE
Lookonchain announced that the two wallets established in the last 24 hours collectively invested $801,000, using 335,349 USDT and 465,839 USDC to acquire 1.08 trillion PEPE tokens. The cryptocurrency community is watching these types of investments closely. Because these generally indicate increased confidence in the asset.
2 fresh wallets created 3 hrs ago spent a total of $801K to buy 1.08T $PEPE.
0x1f5d spent 335,349 $USDT to buy 456B $PEPE.https://t.co/SwYLyQTpS6
0x0a8f spent 465,839 $USDC to buy 629B $PEPE.https://t.co/YMsNn6h48y pic.twitter.com/MsrXzTeXaS
— Lookonchain (@lookonchain) September 29, 2023
A prominent PEPE investor, who had previously made significant profits, re-entered the market by allocating 390 Ethereum (approximately $645,000) to purchase PEPE tokens. The whale’s previous attempt at PEPE had attracted attention. Accordingly, it generated impressive returns of 38,860 times the initial investment, with a total gain of $2.34 million.
This guy who made $2.34M (38,860x) on $PEPE spent 390 $ETH ($645K) to buy $PEPE again 6 hours ago.
And this guy also spent 550 $ETH ($951K) to buy 1.04T $PEPE on Aug 29. pic.twitter.com/MCwOC2RwRA
— Lookonchain (@lookonchain) September 29, 2023
whale’s move
The investor initially purchased PEPE tokens for just 0.03 ETH ($60) on April 15. Following this purchase, he deposited 500 billion PEPE tokens ($588,000) into OKX. He then sold 1.93 million PEPE tokens for 1,052 ETH ($1.75 million). With these profitable moves, the whale’s total PEPE profit exceeded $2.34 million. Accordingly, this indicated a significant increase of 38,860 times.
Despite the recent volatility, PEPE is currently trading at $0.0000008152. However, this value reflects a decline of approximately 80% from the peak. The cryptocurrency market is known for its price fluctuations. On the other hand, the renewed interest in PEPE has an meaning. It demonstrates the ongoing appeal of digital assets for investors seeking both short-term gains and long-term potential.
What to expect next?
Frankly, it is not easy to predict this. On the other hand, when we look at it as cryptokoin.com, we see that this move of the whale attracts attention. Because there is a perception that there are signs of a new price increase.
As the cryptocurrency world evolves, investors need to be knowledgeable, especially in assets with a history of volatility such as PEPE. On the other hand, it is very important for them to be careful in their buying and selling decisions.
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