Smart PEPE Trader Cashes in on 100% Profit

A smart whale has turned heads in the crypto community after selling 202 billion PEPE tokens to cash in on a 100% profit.

A ‘smart trader’ has deposited about 201.85 billion PEPE tokens to the Bybit centralized cryptocurrency exchange, according to blockchain analytical tool Lookonchain. The latest transaction is aimed at taking profit from an initial investment, the data shows.

The trader has traded PEPE three times and made money every time, with a win rate of 100%, Lookonchain highlighted. The total profit made by this entity is $2.48 million.

While the latest dump may raise concerns about the coin’s price in the short term, considering the token’s price movements, it tells a different story as it has surged significantly over the last 24 hours according to recent market data. In fact, PEPE continues to be one of the top gainers in the market.

As reported earlier, PEPE’s price has defied market expectations with a substantial increase over the past month. According to data from CoinMarketCap, PEPE is currently trading at $0.00001365, indicating a 25% rise over the last day.

The coin has also seen a surge in trading volume, with a 86.66% increase to $4.3 billion over the last 24 hours. This surge in activity has pushed PEPE’s market cap up by 24% to $5.7 billion.

Additionally, the coin traded between the lows and highs of $0.00001095 and $0.0000142 within the reported time. It's worth noting that PEPE’s all-time high is $0.0000142, and it was reached earlier today, indicating a continous bullish sentiment.

Finally, PEPE saw a 37.56% increase in its Futures & Options OI to $163.46 million, accompanied by a 74.07% increase in derivatives volume to $2.58 billion, according to CoinGlass data.