Massive Whale Unloads Trillions of PEPE Meme Coins on Coinbase

According to @spotonchain on X, a whale recently sold off 526.2 billion PEPE coins on Binance, netting approximately $5 million in profit.

Hours later, a second whale transferred 500 billion PEPE ($11.73 million) to Coinbase. This whale had acquired the PEPE tokens in 2023 for $2.12 million and now holds 1.48 trillion PEPE ($33.2 million).

PEPE's Surge and Market Dominance

The recent listing of PEPE on Coinbase, Robinhood, and Upbit has propelled its price to an all-time high of $0.00002524. However, it has since retraced to $0.00002174.

Data from Santiment reveals that PEPE is part of a surge in meme cryptocurrencies, along with Dogecoin (96% returns), Dogwifhat (67% returns), and Bonk (67% returns).

Caution Advised

Santiment cautions that historical trends suggest that market dominance of meme coins can indicate "greed and emotional trading." Investors are advised to exercise caution when memes become a dominant topic in crypto discussions.