Smart Money Traders Remain Bullish on PEPE: On-Chain Data

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Smart Money Traders Remain Bullish on PEPE: On-Chain Data

The blockchain tracking firm Lookonchain highlighted the latest Pepe (PEPE) trading activity for smart money investors via a Twitter thread this morning. The first whale discussed was 0x9cd6, who recently bought 7.3 billion PEPE with 11 Ethereum (ETH). It was estimated that the Dollar value of the trade was worth $20,861.

This whale then started purchasing PEPE again after selling 1.75 billion coins for 2,128 ETH, worth approximately $4.18 million, in a profit-taking move. Finally, 0x9cd6 bought 936.5 billion PEPE with 1,374 ETH at the buying price of $0.000002922.

Meanwhile, the whale 0x45cf continued to sell his PEPE and bought 227 million CAPY using 1 ETH. In addition, the tweet mentioned that qianbaidu.eth had bought PEPE again after recently selling Turbo (TURBO). In the past 24 hours, the whale bought 194 billion PEPE using 271 ETH at a purchase price of $0.000002649.

With regards to the whale’s TURBO trades, the trader bought 285 million TURBO using 382 ETH, and then closed the position for 246 ETH. As a result, qianbaidu.eth lost around 136 ETH, estimated to be worth $291K, on the TURBO trades.

Lastly, the whale 0x13b3 recently sold 99 billion PEPE for 256K USD Coin (USDC) at an average selling price of $0.000002585. Despite this dump by the whale, the address reportedly still holds 400 billion PEPE worth $1 million.

Smart Money Traders Remain Bullish on PEPE: On-Chain Data

Daily chart for PEPE/USDT (Source: TradingView)

At press time, CoinMarketCap indicated that PEPE’s price was down 4.16% and trading at $0.000002451. The altcoin was also down 1.89% against Bitcoin (BTC) and 2.56% against ETH. In addition to this, PEPE was trading notably closer to its 24-hour low of $0.000002395 than its daily high of $0.000003093.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.


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