Memecoin Whale’s Patience Ended: Months Later, He Disposed of It All With 976 Percent Profit

While the cryptocurrency market is in a general upward wave today, notably, a whale made a massive profit from a popular memecoin.

According to Onchain data, a significant PEPE whale deposited a substantial amount of PEPE tokens to Binance. While it remains uncertain if this deposit signifies an intent to sell, the whale's extended period of token storage in a cold wallet suggests a high likelihood of a sale.

The PEPE whale acquired 365.96 billion tokens on the cryptocurrency exchange MEXC on December 13 and 16, 2023, corresponding to $494 thousand at the time.

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The Balina wallet deposited an equal quantity of PEPE tokens to Binance today. The current value of these tokens amounts to $5.3 million. In essence, the whale wallet transformed $494 thousand into $5.3 million within a span of less than six months.

The Balina wallet's total profit reached $4.82 million, representing a remarkable profit margin of 976%.

Despite a recent 8% decline in PEPE's price, it has demonstrated an impressive 65% surge over the past month.

Disclaimer: This information should not be construed as investment advice.