PEPE Token Price Keeps Rallying, This Whale Bags 60 Billion Rupiah!
The price of the memecoin PEPE has surged over 1,330% in the last six months, resulting in tremendous gains for PEPE whales.
According to reports from Cryptoglobe, on-chain analysis from Spot On Chain reveals that a whale took advantage of the PEPE price spike by depositing 500 billion PEPE tokens worth around 4.26 million USD into Binance, yielding profits of 3.39 million USD or equivalent to 60 billion Rupiah.
The whale still holds about 100 billion PEPE tokens valued at over 1 million USD, and has garnered profits of over 900,000 USD from other memecoins such as Floki Inu and Shiba Inu.
Memecoin Prices Continue to Exhibit Positive Trends
Meanwhile, the price of PEPE continues to show an upward trend. At the time of writing this article, the price of this meme token is trading at US$0.000009678, up 22.7% in the last week.
Not only PEPE, but other memecoins have also been attracting attention lately. Dogwifhat (WIF) has seen an increase of almost 63% in the last week, with prices reaching 3.27 USD. Meanwhile, Meme Bonk (BONK) based on Solana also experienced a spike of almost 10% in the same period.
However, larger memes like Dogecoin, the 10th largest digital asset, only experienced a slight increase of 2.7% in the last week.
The surge in memecoin prices comes amid pressure on Bitcoin (BTC) and other major cryptocurrencies, which have experienced declines alongside the stock market due to news of February inflation exceeding expectations.
Although meme coins are considered the riskiest crypto assets, they are exceptions in these conditions. Meme coins are known for their extremely high fluctuations, inspired by memes and internet trends. Despite appearing to have little utility, their prices can skyrocket dramatically, providing significant profits for lucky traders. However, the value of such cryptos can also plummet rapidly.
Read Too : Transaction Costs on Ethereum Layer-2 Drastically Drop Post Dencun
*Disclaimer:
This content aims to enrich reader information. Always conduct independent research and use disposable income before investing. All buying, selling, and crypto asset investment activities are the reader's responsibility.
