Whales began buying up millions worth of Pepe (CRYPTO: PEPE) on Wednesday after the frog-themed meme coin shrugged off the broader market lag with a 5% rally.
What Happened: A newly created wallet reportedly withdrew 500 billion PEPE, equivalent to $4.3 million, from cryptocurrency exchange Binance, reported on-chain tracking platform Spot On Chain.
This follows a withdrawal by an early buyer who once booked profits worth over $7 million on their PEPE investments. The trader removed 506.2 billion PEPE, worth $4.4 million, from Binance.
The withdrawal boosted their portfolio to 699.8 billion PEPE, valued at $5.11 million, reflecting an unrealized profit of $164,000, or 2.8%.
Full story available on Benzinga.com
