Key Points:
This action comes after the multisig wallet of this memecoin project and Wintermute Trading sent 17.3 trillion dollars in PEPE ($18 million) to exchanges about 4 hours ago.
The discovery also revealed that 3 hours ago, an early buyer of $PEPE sold $1.88 billion of this token for $1,010 of ETH ($1.68 million) on the DEX.
Or another investor who spent $5k to buy $1.6 trillion in PEPE from April 15th to April 17th and sold for $260k on April 21st, earning 255 thousand dollars (49 times). He then spent $265k to buy $965B in PEPE from April 22nd to April 25th and sold for $900k in August, earning $636k (double).
A series of massive transactions by investors and project teams has caused this token to fall into the abyss with a drop of more than 16% in the last 24h.
These unusual transactions have puzzled the crypto community. In addition, many people have theorized that the project team is about to sell off tokens and may have started a rug pull as the project’s Twitter hasn’t tweeted in the past 2 weeks.
Although once a large cryptocurrency with a market capitalization of up to $1.63 billion, today this figure is only $ 362 million. This further reinforces the great uncertainty and risk for investors in memecoin, a token with no real value.
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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