The $1.23M Profit Story: Lookonchain Reveals Pepe Trading Secrets

Key Points:

• Five addresses related to pepecexwallet.eth bought and sold large amounts of PEPE, earning $1.23M profit.
• The data on the chain shows that these five addresses are likely to be some of Pepe’s internal addresses.

A recent analysis by Lookonchain has raised concerns about the fairness and transparency of the Pepe token’s price discovery mechanism, showing potential red flags for investors.

According to Lookonchain’s analysis, five addresses related to Pepecexwallet.eth has earned a staggering $1.23 million by buying and selling PEPE tokens on a decentralized exchange. These addresses bought 8.87 trillion PEPE tokens at a low price and then sold 7.76 trillion PEPE tokens at a high price, netting nearly 3,200 times their initial investment.

• Wallet “0xAd10” bought 2.44T $PEPE with 0.0195 $ETH($39.3) and transferred 2.44T $PEPE to wallet “0x9807”.
• Wallet “0x9807” bought 0.06T $PEPE with 0.11 $WETH($230.84) and transferred 2.5T $PEPE to wallet “0x7607”.
• Wallet “0x7607” bought 1.77T $PEPE with 0.0175 $ETH($35.24) and sold all 4.26T $PEPE for $726,218.
• Wallet “0xAd10” transferred the remaining 0.03 $ETH to wallet “0xde85”.
• Wallet “0xde85” bought 2.29T $PEPE with 0.022 $ETH($44.26) and sold 1.84T $PEPE for $238,480.
• Wallet “0x9807” transferred the remaining 0.18 $ETH to wallet “0x1984”.
• Wallet “0x1984” bought 2.31T $PEPE with 0.0175 $ETH($35.25) and sold 1.66T $PEPE for $266,991. Then transferred the remaining 0.65T $PEPE to pepecexwallet.eth Huobi deposit address.

The fact that Pepe’s internal addresses conducted these transactions raises concerns about market manipulation. It’s unclear whether these addresses are affiliated with Pepecexwallet.eth or are other internal addresses of Pepe. Still, regardless, the transactions seem to have been conducted in a way that may have artificially inflated the price of PEPE tokens.

Investors should be aware of these red flags and exercise caution when investing in Pepe or other meme coins. While they offer the potential for high returns, they can also be highly volatile and subject to manipulation. It’s essential to do thorough research and due diligence before making any investment and to be mindful of potential red flags that could indicate market manipulation or other unethical practices.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Thana

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