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The crypto market is experiencing heightened volatility as large investors pour millions into meme coins. According to Spot On Chain, a well-known crypto whale secured an incredible $13.75 million profit from trading Pepe (PEPE), while another whale withdrew millions worth of Dogwifhat (WIF) from Binance, sparking speculation about the token’s future movement.
Whale Rakes in 328% Profit on PEPE
A major crypto whale, identified by wallet address “0xe7d”, recently executed a lucrative trade, purchasing 280.85 billion PEPE tokens for 974.642 ETH (approximately $2.62 million). This investor now holds 1.404 trillion PEPE, valued at around $13.2 million—a remarkable 328% return.
This level of profit highlights the whale’s strategic market timing and ability to capitalize on price swings. While meme coins like PEPE often experience price fluctuations driven by speculation, such massive purchases significantly influence market dynamics.
WIF Whale’s Massive Binance Withdrawal
Apart from PEPE, another whale, associated with wallet “4FhF5”, made headlines by withdrawing 9.48 million WIF tokens, worth $7.17 million, from Binance just 11 hours ago. This large transfer has led to speculation about WIF’s future price action.
Such substantial withdrawals are often viewed as a sign of strong investor confidence. Whale movements frequently act as signals for other traders, and this large-scale WIF accumulation could suggest a long-term bullish outlook for the token.
PEPE and WIF Price Updates
Despite significant whale activity, PEPE’s price has dropped 15% in the past 24 hours, currently trading at $0.000009010. However, its trading volume has surged 24%, reaching $825 million, indicating continued market interest. Analysts link this decline to broader market uncertainty, influenced by escalating U.S.-China trade tensions.
Similarly, Dogwifhat (WIF) has also fallen 12%, bringing its market cap to $720 million. Technical analysts note that if WIF breaks out of its ascending triangle formation, it could rally towards $1.10. However, given current market conditions, uncertainty remains over whether this breakout will materialize.
For the latest insights and updates on crypto whale movements, stay tuned to Turkish NY Radio.
