Another Prominent PEPE Holder Sells Off: Gains 54,725x on Initial Investment
In the ongoing buzz around PEPE, one of the cryptocurrency standouts of recent times, a significant player has engaged in a fresh transaction.
This large wallet, known as a “whale,” had been an early investor in the token, quickly purchasing a substantial quantity of altcoins from the decentralized exchange UniSwap within the initial 30 minutes of PEPE’s launch. In this recent move, the wallet has offloaded a staggering 1 trillion tokens, amounting to $871,000 at the current valuation.
This particular wallet was among the initial purchasers of the token, securing 1.6 trillion tokens for a cost of 0.0183 Ethereum, or approximately $36.73 in today’s market.
Following prior partial sales of its holdings, the whale wallet concluded its PEPE trading journey with a remarkable profit of 1,001 ETH (equivalent to $1.73 million), significantly increasing its initial investment by a staggering 54,725 times.
Allegedly linked to one of the team members with insider knowledge about the token’s launch, this wallet’s activity comes amid recent internal disputes within the PEPE team. Notably, a notable discord within the team led to the sale of $61 million worth of tokens from multisig wallets on central exchanges. In a statement released today, the token team conveyed that members involved in these sales have been removed from the developer team.
*This information is not intended as investment advice.