PEPE Trader Bets $1.59 Million During 30% Surge – What Happened After His Last Big Buy Might Surprise You

The meme coin PEPE saw its price pump over 30% this week, finally breaking through the $0.0000008 resistance level on Friday for the first time since late August. PEPE had been trading below the $0.0000008 mark for the entire month of September.

According to on-chain analytics provider LookOnChain, a whale trader who previously scored big on PEPE made two more large buys this week. This trader allegedly made $2.34 million in profit (a 38,860x return) earlier this year after spending just $60 on PEPE in April.

LookOnChain reports that this same trader spent 390 ETH (around $645,000) to purchase more PEPE just 10 hours ago. Additionally, this whale also spent 550 ETH (around $951,000) to buy 1.04 trillion PEPE back on August 29.

Many speculate that this whale trader likely has insider information or is manipulating the price. However, it’s also possible they are simply making speculative bets based on technical analysis.

The PEPE price action shows the power of hype and speculation in the crypto markets. Meme coins like PEPE can see wild price swings from just a few major buyers or rumors. Traders will be closely watching to see if this PEPE whale continues to accumulate and if the rally has more room to run.

Check $RECQ Meme Coin

Sponsored: Invest Responsibly, Do Your Own Research.
Serves as the base currency for all transactions within the Rebel Satoshi platform
ICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

CaptainAltcoin
Logo