• PEPE, a meme token, recently hit an all-time high of $0.000004354 on May 5th after getting listed on various exchanges.
• A whale then purchased 4.23 trillion PEPE tokens using 422 ETH and 200K USDC and deposited them into Binance.
• The move by the whale has caused the market to fear that the tokens will be sold off resulting in a price drop of 46.53%.

PEPE Token Reaches All Time High

At press time, PEPE was trading at $0.000002328 and its price had declined by 10.93% in the last 24 hours. On May 5th 2023, it reached its all-time high of $0.000004354 after being listed on OKX and Binance exchanges.

Whale Buys Trillions of PEPE Tokens

According to blockchain data provider Lookonchian, a giant whale bought 4.23 trillion PEPE tokens using 422 $ETH and 200K $USDC before depositing them into Binance on the same day as the listing announcement was made. This resulted in an immediate increase in price which gave the whale a profit of around $14.5 million at that time.

Fear of Token Dump

The sudden move caused fear among investors that these tokens would be sold off soon leading to significant losses for them as well as a drop in price for PEPE overall; resulting in a decline by 46.53% from its all-time high value since then .

Market Performance

At present, PEPE is currently trading at about 10% less than what it was when this article was written and there is still potential for further drops if fears are proven correct over time . Despite this fall however, it is important to note that PEPE’s current value is still much higher than what it was prior to its listing on OKX & Binance just 3 days ago .

Conclusion

Overall , despite the recent decline in price , investors should remember that this dip could be temporary & simply part of normal market fluctuations given how quickly & significantly prices can change within such short periods . As always , it’s important to do your own research & make decisions based on your own risk appetite & economic situation before investing in any cryptocurrency projects .

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