A whale profiting from the Pepe coin craze seems to have a new target. The new target is a token produced by ChatGPT for $69. Here are the whale’s latest moves and its new token-laden investment…
PEPE coin whale’s target has TURBO
Amid the ongoing meme coin craze, a mysterious whale that had previously raised over $14.5 million in Pepe Coin has made a substantial investment in the Turbo token. According to Lookonchain’s Blockchain analysis report, the whale acquired Turbo on May 3. The first purchase of the whale was worth about $977,000. This equates to 1.38 billion tokens. As of today, the investment is worth approximately $1.9 million. So the whale seems to have made a profit of $1 million.
This whale was not an early buyer of $PEPE, but he kept buying $PEPE from Apr 19 to 27 when the price of $PEPE was depressed.
So is he buying $TURBO because he knows something we don't?
Check my previous tweet.https://t.co/iA7aGLbHSR pic.twitter.com/94LZDFrtBO
— Lookonchain (@lookonchain) May 9, 2023
It’s important to note that the seller who bought Turbo is not the same person who bought the Pepe Coin in the first place. Apparently, the whale bought the coin between April 19-27, when the price of PEPE fell significantly. Lookonchain claimed on Twitter that the seller bought the Turbo because he knew something that others didn’t.
TURBO becomes the fourth most traded meme coin
Turbo, a memecoin launched last month, has skyrocketed in value. coins; Pepe has become the fourth most traded meme coin after Dogecoin and Shiba Inu. That’s why it’s been making headlines lately. According to DexScreener, the token has increased by 53.3 percent in the last 24 hours. It currently has a market cap of $97.4 million and is in the top 10 among the most valuable meme coins.
The white paper of the project, in humorous language, highlights a budget of $69 and a total supply of 69 billion tokens. The developers aim to establish Turbo as the leading meme coin with a unique focus on simplicity, fairness, and community engagement. However, the token’s rising value has prompted warnings. For example, decentralized exchange (DEX) Uniswap has warned its users against this coin.
As we have reported as Kriptokoin.com, the meme coin explosion continues. Meanwhile, many are speculating that the “crypto winter” may be coming to an end. The whale’s investment in Turbo is testament to the growing interest in meme coins. It was also just the latest example of the significant return potential of meme coins. Only time will tell if this trend will continue or if there is a bubble waiting to burst. At this point, it is worth noting that cryptocurrencies are subject to high volatility. That is, the coin from which the whale profits is at risk of sudden depreciation. For this reason, it is the best option for investors to invest carefully and in line with their own research.
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