Crypto Whale Sells 420B $PEPE Tokens for $3.16M and Makes <1% Profit

A crypto whale recently sold 420 billion $PEPE tokens. This sale occurred just after the investor had acquired the tokens during a market downturn earlier this month.

According to a report by Lookonchain, the whale purchased 420 billion $PEPE tokens on two occasions—Aug. 5 and Aug. 12—spending a total of $3.13 million in $USDT (Tether), a stablecoin tied to the value of the U.S. dollar. A couple of hours ago, the whale sold the entire batch of $PEPE tokens for $3.16 million in $USDC (USD coin), another stablecoin.

The transaction resulted in a profit of $30,000, representing a gain of approximately 0.96% on the initial investment. While the profit margin might seem modest considering the large sums involved, the transaction highlights the whale’s decision to capitalize on a slight uptick in the market.

In the crypto space, “whales” are individuals or groups of people who hold large amounts of a particular cryptocurrency. Because of the sheer volume of their transactions, their actions—whether buying or selling—can have a major impact on the market.

Last week, The Shib Daily reported whale activity on the Shiba Inu network had surged dramatically, with a staggering 9 trillion SHIB tokens exchanged in a single day.

Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.