#Whale dumps $8.86 million worth of PEPE#

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Overview

A whale, believed to be "smart money" that profited $4.92 million from PEPE's recent rally over the past six months, just withdrew 549 billion PEPE tokens worth $8.86 million from Kraken exchange 2 hours ago. Notably, the whale had deposited 561.8 billion tokens into the exchange yesterday, and it remains unclear whether they have sold all the withdrawn tokens or bought back some. If the latter, the whale could have earned nearly 10 points, or roughly $1 million in profit, by buying low and selling high. Currently, the whale still holds $9.68 million worth of PEPE.

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Analysis

Recently, a whale considered to be a "smart money" has made $4.92 million in profit through PEPE price swings over the past six months. Two hours ago, they withdrew 549 billion PEPE worth $8.86 million from Kraken exchange. Notably, the whale had just deposited 561.8 billion tokens into the exchange yesterday. It is unclear whether this withdrawal is a complete sell-off or a re-buy. If the whale is re-buying, they would profit approximately $1 million, as they sold at $0.0000178 and bought back at $0.00001613, gaining nearly 10% profit. Currently, the whale still holds PEPE worth $9.68 million. This event has sparked market speculation about the future trajectory of PEPE. Some believe that the whale's sell-off could indicate further price declines, while others believe the whale's re-buy signals an optimistic outlook for PEPE.

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Classic Views

A whale dumping PEPE could be for profit-taking, as the address has profited $4.92 million from PEPE swings over the past six months.

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Whales may simply be taking short-term trades, as they just deposited a large amount of PEPE into the exchange before dumping.

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Whales may simply be adjusting their positions, as they still hold $9.68 million worth of PEPE.

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Whale dumping could have some impact on the PEPE price, but the specific impact is not yet clear.

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