PEPE Coin Hits All-Time High Followed by Institutional Sell-Off
BlockTower Capital recently sold its entire PEPE holdings, netting a profit of $569,000—a 25.6% return in just seven days. According to Spot On Chain, the institutional investor transferred 202.2 billion PEPE tokens to Cumberland at $0.00001381 per token, totaling approximately $2.79 million. This transaction occurred shortly after acquiring the same tokens from Cumberland on May 15, 2024, for $2.22 million ($0.000011 per token).
🔍 Key Insight:
The timing of BlockTower’s exit aligns with PEPE’s price reaching a historic peak, showcasing a classic "buy low, sell high" institutional strategy.
Whale Activity and Profit-Taking
Early PEPE investors are capitalizing on the meme coin’s rally:
- A whale address (
0x6D5) deposited 182.9 billion PEPE ($2.28 million) into Binance at $0.00001244 per token. - This same investor initially purchased 324.9 billion PEPE in April 2023 for just 0.22 ETH ($463), realizing an estimated **$3.14 million profit—a 680,000% return**.
📊 Market Context:
PEPE surged 20% in 24 hours and 45% weekly, driven by speculation around potential Ethereum ETF approvals in the U.S. Analysts note that Ethereum-based meme coins like PEPE act as leveraged bets on ETH’s growth.
Risks and Future Outlook
Potential for Large-Scale Sell-Offs
The Network Unrealized Profit/Loss (NUPL) metric indicates rising profits among holders. As more investors seek to cash in, PEPE could face increased selling pressure.
Why PEPE Remains Volatile
- Speculative Nature: Meme coins thrive on hype rather than fundamentals.
- Regulatory Uncertainty: Ethereum ETF decisions may impact PEPE’s momentum.
👉 Stay updated on PEPE’s latest trends
FAQs
Q: Is PEPE still a good investment after its ATH?
A: While past performance is impressive, PEPE’s future depends on market sentiment and broader crypto trends. Diversify and invest cautiously.
Q: Why did institutions sell PEPE?
A: Profit-taking is common after sharp rallies. Institutions often exit positions to lock in gains.
Q: Could PEPE crash soon?
A: High NUPL values suggest possible sell-offs, but timing is unpredictable. Monitor trading volumes and news.
Final Thoughts
PEPE’s recent price action highlights the opportunities—and risks—of meme coin investing. For now, the market watches Ethereum ETF developments as a key driver.