Crypto Whale Withdraws 67B PEPE Meme Coins from Major Exchange After $2.55M Loss in Shiba Inu (SHIB)

Crypto Whale Withdraws 67B PEPE Meme Tokens from Major Exchange After $2.55M Loss in Shiba Inu (SHIB)

Lookonchain Tweet Reveals Withdrawal

A recent tweet by Lookonchain revealed that an individual recently withdrew 67 billion Pepe (PEPE) tokens, valued at approximately $1.02 million, from the OKX exchange. This follows a previous loss of $2.55 million, or 85.5%, in Shiba Inu (SHIB).

Previous Loss in Shiba Inu

During the previous bull market, the investor acquired 40.9 billion SHIB tokens at inflated prices, investing a total of $2.98 million. However, the subsequent bear market led to the investor liquidating their SHIB holdings at a significant loss.

Pepe Price Fluctuations

In a subsequent tweet, Lookonchain reported that the price of Pepe has fallen nearly 20% from its peak. This price drop coincides with a whale depositing all 660.7 billion PEPE tokens, valued at $9.52 million, into Binance. The whale had acquired these tokens a month prior and realized a profit of approximately $4.95 million (52% ROI).

Volatility of Meme Coins

The investor's previous loss in SHIB and the rapid price fluctuations in Pepe highlight the inherent volatility of meme coins. These tokens often experience rapid appreciation followed by sharp declines, making them a high-risk, high-reward investment.