Whale Converts PEPE Profits Into Bitcoin Amid Price Drop

A major PEPE coin investor has converted significant holdings into Bitcoin, capitalizing on Bitcoin’s price dip, data from on-chain analytics shows.

This transaction highlights the prevalent trend of investors switching from PEPE to Bitcoin, affecting market dynamics and prompting liquidity shifts.

Whale Nets $10 Million from PEPE Token Sales

The involved PEPE whale, originally acquiring 1.5 trillion PEPE tokens for around $2,184, has executed a strategic sale. This investor managed to earn over $10.3 million in profit, as tracked by Lookonchain.

According to reports, this whale disposed of 150 billion PEPE tokens and directed resources into Bitcoin amidst a market dip. The transaction was facilitated via major exchanges such as Coinbase and Binance.

“A $PEPE OG sold 150B $PEPE($1.14M) again 5 hours ago. … with a total profit of $10.3M(4,718x)” – Lookonchain, Analytics Team, Twitter.

PEPE Price Volatility Follows Whale Activity

The PEPE sales led to significant price volatility in both PEPE and Bitcoin, with retail markets observing shifts. The community on various social platforms has been closely monitoring these whale activities.

Analysts point out that while the PEPE market experienced a 16% correction post-sale, Bitcoin is gaining attention from whales as a stable investment option during price fluctuations.

Whale Moves Mirroring DOGE and SHIB Trends

Historical data shows that whale activity in meme coins like DOGE and SHIB has triggered similar price corrections. These sales often occur following high market evaluations and subsequent new exchange listings.

Experts suggest such movements could indicate further interest in Bitcoin as a hedge in volatile markets. The continued involvement of large investors is expected to affect market sentiment significantly.