- A Pepe whale made two trades with large trading capital.
- The first trade made a profit of more than $2.61 million. The second trade led to a loss of more than 43%.
Crypto whales can make the most losses when things don’t go well in the market. Apparently, the same thing applies to this Pepe whale captured by Spot On Chain.
First Trade From the Pepe Whale Ends in Profits
- This Pepe whale involved in this trade moved across two trading cycles. One of them ended in profit and the other in losses. So, before moving to the losses, let’s discuss the profits first.
- This Pepe whale known as 0x025, previously operating under the alias pepeworldorder.eth, made his first trade of Pepe Tokens in the early days. Apparently, this was during the launch period of the Pepe Tokens. The trading cycle lasted from April 17 to May 31. So, that’s almost two months of trade on the Pepe Tokens.
- During this cycle, the Pepe whale bought 3.7 trillion $PEPE tokens with 329 $ETH. However, there were massive profits after the whale sold the 3.7 trillion $PEPE tokens for 1,744 $ETH. The sale from the Pepe token investment made a return of 1,415 $ETH, equivalent to approximately $2.61 million at current ETH prices. So, after the first trade from the Pepe whale, there was another second trade. This one ended in losses.
Second Trade From the Pepe Whale Ends in Losses
- The second trade from the Pepe whale didn’t go according to plan. Apparently, the trade resulted in the whale losing almost half of the investment. This second cycle of trade started on July 10th. So, this whale purchased 263 billion $PEPE tokens with 400,000 $USDT at an average rate of $0.00000152 per token.
- But then the Pepe whale made some wrong decisions, resulting in losses. The whale sold 263 billion $PEPE tokens for 226,000 $DAI. Furthermore, this sale happened at a rate of $0.00068591 per token, resulting in a loss of $174,000, or a 43.4% decline.
Pepe Developers Accused of Insider Trading
- Previously, there was a pandemonium among Pepe developers over insider trading. On the 24th of August, 2023, there was a transfer of around 16 trillion Pepe tokens from the $PEPE multisig CEX Wallet to various crypto exchanges.
- This raised a lot of concerns among the crypto community. Furthermore, the Pepe developers made changes to the multisig wallet settings, leading to accusations of insider trading.
Conclusion
Pepe is a meme coin that took the crypto industry by storm with the launch and the massive price increase. Recently, a Pepe whale made a series of trades, with one of them resulting in massive losses. In the first trade, the whale made some profits. However, that wasn’t the case in the second trade. The trader lost more than 43% of the investment capital. Furthermore, this trade might impact Pepe’s price negatively, as it is a kind of sell-off.
