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PEPE Coin Whale Launches $PEPE Ethereum Pool as One Exits Positions

Crypto buyer 0x9da swaps $PEPE tokens for ETH, making a $216K profit, while Pepe Coin (PEPE) hits its lowest price since Binance listing amid market uncertainty.

Key Points

  • Crypto buyer 0x9da swaps 452.911B $PEPE tokens for 194.31 ETH, making a $216K profit at a rate of $0.0000006961 per $PEPE.
  • The transaction originated from Huobi exchange, where $PEPE tokens were initially bought for approximately $99.55K.
  • Another crypto whale, 0x3ae, creates a liquidity pool with 5.71T $PEPE tokens and 508 ETH.
  • Pepe Coin (PEPE) hits its lowest price since Binance listing at $0.00000082 amidst market uncertainty and security concerns, raising questions about its future.

In a noteworthy transaction today, a crypto buyer known as 0x9da made a significant swap of 452.911B $PEPE tokens for 194.31 Ethereum ($ETH) at a rate of $0.0000006961 per $PEPE.

The total value of this swap amounted to $315K, according to SpotOnChain.

The whale had initially accumulated the $PEPE tokens from the Huobi exchange on April 27, 2023, at an average rate of $0.0000002198, costing them approximately $99.55K.

This recent swap resulted in a remarkable profit of $216K, representing a 216% increase.

Transaction Details

The transaction ID (txid) associated with the 0x9da swap is 0xe69688c740916a67a417f33039d943aba1979245d758ce93b15e347ce46994ec. The address involved in the swap is 0x9dae76f6683d0d5a11c0ab4fb57d699ad4d78079.

Just a few hours before the aforementioned transaction, another crypto whale known as 0x3ae created a liquidity pool. This involved a massive 5.71T $PEPE tokens, equivalent to $4.13M, and 508 Ethereum ($ETH).

Address for Liquidity Pool

The transaction ID (txid) associated with the 0x3ae liquidity pool creation is 0x603c844db097ba7e63c4f8027b2b9a99e894a2fe0a3dc493af10767e22dcdf23.

The address involved in the liquidity pool creation is 0x3aea201a16969012955071296eC207a351EAdC9f.

At the current valuation, Pepe coin stands at $0.0000007231. The exchange rate for PEPE to ETH is set at 11,240,157,480 $PEPE for every $ETH. If Bitcoin’s decline halts, the current Pepe price might offer profitability.

However, if both BTC and ETH were to depreciate in the future, it would be strategic to long PEPE while simultaneously shorting ETH.

Pepe Coin Hits Lowest Price Since Binance Listing

Today, Pepe Coin (PEPE), inspired by the iconic Pepe the Frog meme, experienced its lowest price since its listing on Binance.

The coin’s value plummeted to $0.00000082, mirroring Bitcoin’s decline.

During the day, the coin’s trajectory took a steeper dive, registering an 8% decrease, with a startling 10% drop within just a minute.

Concluding Thoughts

The crypto market is currently facing uncertainty, with speculation that Bitcoin may nosedive to $20,000.

Incidents like the compromise of Ethereum Founder Vitalik Buterin’s Twitter account and security breaches on PePe X’s social platforms have added to the market’s jitters.

Past allegations against Pepe Coin, including potential scams and insider trading, have also shaken investor trust. PEPE’s future in this volatile market hangs in the balance..