Breaking News: PEPE Trader Capitulates, Liquidating Holdings at Breakeven Point
In a dramatic twist, a PEPE trader has surrendered, offloading their entire 114.7 billion PEPE tokens for 366.5 ETH, approximately $1.27 million USD.
Initial Investment and Market Hype
The trader initially acquired the tokens on May 14 and 15 for $0.000011 each, investing a total of $1.27 million. Driven by surging interest, PEPE experienced a rally, peaking at $0.00001718 on May 27.
Missed Opportunity and Market Decline
At the peak, the trader's holdings were valued at $1.94 million, presenting a potential profit of $670,000. However, they chose to retain the tokens, hoping for further gains. But fortune turned against them as PEPE's price tumbled, falling below the trader's breakeven point.
Sale at Breakeven Point
Faced with persistent decline, the trader liquidated their entire position, realizing 366.5 ETH or $1.27 million, matching their initial investment. While the trader avoided a loss, the missed opportunity for significant profit serves as a reminder of the importance of market timing.
Current Market Situation
At press time, PEPE has declined by 0.79% over the past 24 hours to $0.00001204. The cryptocurrency has gradually retreated since its all-time high on May 27, reaching a low of $0.00001057 during yesterday's trading session before rebounding slightly.
Coingape News Media
U_Today
DogeHome
CryptoTale
ETHNews
U_Today
ItsBitcoinWorld
U.Today
