Crypto Whale Withdraws 67B PEPE Meme Coins from Major Exchange After $2.55M Loss in Shiba Inu (SHIB)
A recent tweet by Lookonchain has revealed that an individual withdrew 67 billion Pepe (PEPE) tokens, worth approximately $1.02 million, from the OKX exchange just few hours ago. Interestingly, this particular investor had previously suffered a substantial loss of $2.55 million, or 85.5%, in Shiba Inu (SHIB).
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Previous Loss in Shiba Inu
During the previous bull market, the investor purchased 40.9 billion SHIB tokens at high price points, amounting to a total investment of $2.98 million.
However, when the bear market arrived, the investor sold all of their SHIB holdings at a major loss. This raises the question of whether the investor can make a profitable trade with their recent Pepe investment.
Pepe Price Falls Nearly 20% from Peak
In another 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, worth $9.52 million, into Binance.
The whale had purchased these tokens a month ago and has managed to make a profit of approximately $4.95 million, representing a return on investment (ROI) of 52%.
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The investor’s previous loss in Shiba Inu and the recent price fluctuations in Pepe highlight the inherent volatility of meme coins. These tokens often experience rapid price appreciation followed by sharp declines, making them a high-risk, high-reward investment.
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