Yet Another One of PEPE’s First Backers Sells Out: Is This the Reason Behind the Decline?

A cryptocurrency whale who bought PEPE tokens from Huobi in April 2023 sold them all for 194.31 ETH, making a profit of more than 200 thousand dollars.

According to Etherscan data, the whale with the short address 0x9da sold 452.911 billion PEPE tokens for 194.31 ETH on September 10, 2023 at a price of $0.0000006961 per token. The total value of the transaction was recorded as approximately 315 thousand dollars.

As of April 27, 2023, Whale had accumulated 452.911 billion PEPE tokens from Huobi at an average price of $0.0000002198 per token and spent approximately $99.55 thousand. Thus, the amount of memecoin in the whale’s possession was zero.

The whale’s sale coincided with another whale creating a liquidity pool with PEPE tokens and ETH. The whale, with the address 0x3ae, added 5.71 trillion PEPE tokens and 508 ETH to the Uniswap pool an hour before the sale, creating a pool worth approximately $4.13 million.

The price of the token was traded at $0.0000007189 at the time of writing this article and dropped by 8% with a huge loss during the day.

A 4-hour chart showing the overall decline in the altcoin’s price.

*This is not investment advice.

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