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On-chain data analytics platform Lookonchain recently spotted a huge transaction from a top Pepe whale. On Friday, this large investor tagged Nascent sold 175 billion $PEPE, valued at about $1.5 million. The transaction occurred when $PEPE shed a zero, attempting to recover from persistent price drops.
$PEPE whales remain resolute
Lookonchain explained in an X post that Nascent remains a persistent $PEPE whale, conducting regular purchases and sales. Notably, Nascent bought 608.85 billion $PEPE worth $7.73 million between June 6 and July 15, 2024.
Subsequently, Nascent began selling its $PEPE holdings when the price skyrocketed Nov. 13, 2024. The investor, however, missed the best-selling window, with his sell-off resulting in a profit of only $348,000.
Nascent sold the remaining 175B $PEPE($1.5M) 4 hours ago.
— Lookonchain (@lookonchain) February 8, 2025
Between June 6 and July 15, 2024, #Nascent purchased 608.85B $PEPE for $7.73M.
On Nov 13, 2024, when $PEPE skyrocketed, #Nascent began selling $PEPE.
However, he missed the optimal selling window, resulting in a profit… pic.twitter.com/Bh3OpW9rRK
This highlights how market timing can impact investment outcomes. It also emphasizes that volatility in crypto markets often presents opportunities and challenges.
However, the latest sell-off of $PEPE by Nascent could indicate a good sign for the market. This is because the whale investor would need to buy back more $PEPE in the future, leading to increased market activity and, eventually, price surges.
Before the transaction from Nascent, another whale withdrew 375.35 billion $PEPE worth $3.73 million from the Binance exchange. This transaction is part of a larger trend where whales scooped meme coins like $PEPE and WIF from Binance.
How $PEPE is trading
The latest $PEPE dump from Nascent follows a resurgence in the price of meme coins.
Currently, $PEPE is traded at $0.000009155, down 4.47% in the last 24 hours. However, the daily trading volume is up 4.8% to $911.28 million, suggesting investors' renewed interest.
This means a resurgence in market momentum could see $PEPE back to new highs.
Meanwhile, $PEPE continued to expand, positioning itself as a top player in the meme sector. In January, $PEPE secured a new listing on a major Japanese crypto exchange Bitflyer.