Memecoin Whale Profits $5.06 Million from $PEPE, Sends All Holdings to Binance

A cryptocurrency whale has recently gained significant attention following the depositing of a huge number of $PEPE memcoin into Binance. Lookonchain, a well-known on-chain analytics firm, disclosed that the whale has made a substantial profit with the deposit of up to 395.92 Billion $PEPE coins just four hours back. The analytics company revealed the respective move on its official X account.

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The Whale Making $5.06M from Its $PEPE Memecoin Holdings, Deposits $3.4 Million into Binance

Lookonchain noted in its recent X post that the total value of the tokens that the whale deposited equals $3.4 million. This move reportedly denotes the latest in a sequence of pre-planned trades, paving the way for remarkable returns. On the 1^st of August, the analytics firm reported the deposit of up to 400B $PEPE coins by the same whale. The respective tokens had a value of nearly $4.22M.

The whale deposited those tokens into Binance for profits. The move came after a former withdrawal of almost 795.92B $PEPE coins from Binance. This event occurred on the 1^st of March this year. That amount equaled a value of approximately $2.55M at that time. Following that, the whale has been managing the $PEPE holdings thereof.

The Whale Cumulatively Sees a 199% ROI for Its Deposits in $PEPE

In this respect, the recent deposit suggests a well-timed withdrawal from the market. Cumulatively, the whale has made $5.06M from their strategic trading. According to Lookonchain, this figure highlights a significant 199% ROI for the $PEPE deposits.