A PEPE whale that earned $14.5 million in the last rally is now returning to another meme coin, TURBO.
PEPE whale identifies new prey
A whale recently transferred $14.5 million in PEPE to Binance, according to data from Lookonchain dated May 9. Now, with this fund, he starts to buy TURBO in large quantities.
Due to the whale’s past success, its trades are attracting a lot of attention among investors. Some speculate that TURBO could be the “big thing” after the success of PEPE.
On-chain data shows that the whale bought 4.23 trillion PEPE with 422 ETH and 200,000 USDC between April 24 and 27.
On May 5, the whale transferred all of its tokens to Binance, possibly making a profit of around $14.5 million.
This giant whale who bought 4.23T $PEPE ($15.6M) with 422 $ETH ($871K) and 200K $USDC deposited all $PEPE to #Binance 30 mins ago.
His average buying cost is $0.0000002535, and the profit is ~$14.5M now!
He may sell after opening trading, watching out for the price change.⚠️ pic.twitter.com/7UoNYG9PJb
— Lookonchain (@lookonchain) May 5, 2023
$14.5 million starts flowing into Turbo
Now, with the price of PEPE down 55% from its May peak, the whale is thought to be waiting for an opportunity to buy TURBO. The same whale bought 1.38 billion TURBO yesterday worth $977,000. The whale last purchased TURBO on May 8.
https://twitter.com/lookonchain/status/16557787862951088128
Another whale, BTC12 Capital (leishen.eth), bought 645 million TURBO on May 6 and 7 at an average of $0.001773. Whale spent 600 ETH worth $1.14 million for this investment.
https://twitter.com/rhett/status/1650265724198465538
Why Turbo?
Developed with the use of ChatGPT, a cutting-edge artificial intelligence language model, TURBO stands out with its technology. Almost every aspect of the token, such as its whitepaper, roadmap and concept, was developed using ChatGPT. The project team says that the coin is community-driven and embraces decentralization.
Whales see this meme coin as a better decentralized version of PEPE. Thanks to ChatGPT’s artificial intelligence support, a safe environment is provided for investors as cryptocurrencies are not interested in making any profit. However, the inherent risks associated with such investments should not be overlooked, as the price of small assets like TURBO can easily become the target of market manipulators.
https://twitter.com/TurboToadToken/status/1652789263308824578
In terms of price, it’s unclear whether TURBO will repeat the success of PEPE and hit record highs. Bitcoin is currently relatively under pressure, which is a major hurdle for the coin’s price action.
Pay attention to these
Despite recent double-digit gains, TURBO has resisted selling pressure. Thus, it differed greatly from its competitors in the market. However, the success of meme coins often lacks any practical benefit. Usually, it’s largely based on hype and demand from FOMO. As a result, their prices tend to drop rapidly once the hype subsides. As Kriptokoin.com, we have included DeFi expert Miles Deutscher’s “Guide to Finding Explosive Meme Coins” in this article.
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