PEPE whale’s investment skyrockets by almost $5M in just one month

A gigantic holder of the Pepe token, also known as a memecoin, has earned a staggering profit of nearly $5 million within a single month. Despite a decrease of over 17% from its highest value, Pepe’s price continues to climb. The whale responsible for this impressive feat has transferred all of their PEPE holdings to a Binance wallet, leaving their original wallet with only $161,449 worth of crypto. The majority of their new holdings consist of Compound (COMP) tokens. The recent decline in the trading volume of memecoins has caused some concern, with a decrease of over 21% in the past 24 hours. However, despite their lack of intrinsic value, memecoins have the potential to make millionaires due to their volatile nature. Another trader recently made a profit of $2.7 million in just three days with the MAGA (TRUMP) meme token. As for Pepe, its price has fallen by 4.4% in the past 24 hours, bringing it down to $0.00001437. This represents a decrease of over 17% from its highest point. However, there is a possibility of a 40% price correction in the future if the price chart repeats the patterns from January 2024. On the other hand, the current correction may indicate the start of a new hype cycle that could lead to Pepe’s market capitalization surpassing $10 billion. It’s important to note that this article does not provide investment advice and readers should conduct their own research before making any decisions.