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Surprising Ethereum move by 114 billion PEPE traders; Here because
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In a dramatic turn of events, a PEPPER The trader capitulated, selling all of his 114.7 billion PEPE tokens for 366.5 ETH, worth approximately $1.27 million.
Second Guardaonchainthe trader initially purchased 114.7 billion PEPE tokens on May 14 and 15 for $0.000011 per token, for a total of $1.27 million.
This entry point looked promising as PEPE was gaining traction and attracting considerable interest in the cryptocurrency market. PEPE would then rise to an all-time high of $0.00001718 approximately 14 days later.
On May 27, the price of PEPE increased, crossing the $0.000017 mark. At this peak, the trader’s holdings were valued at $1.94 million, presenting a potential profit of $670,000, or a gain of 50%. Despite the substantial gain, the trader chose not to sell, perhaps holding the tokens in anticipation of further price increases, which proved costly.
However, the market took an unfavorable turn when the price of PEPE started to fall. The downtrend continued and PEPE value fell below the trader’s breakeven point of $0.000011.
Faced with a prolonged decline The price of PEPE, the trader ultimately decided to sell all 114.7 billion tokens. The sale was made at a break-even price, yielding 366.5 ETH, almost equivalent to its initial investment of $1.27 million.
Even if the trader has not suffered any financial losses, the missed opportunity for a substantial profit highlights the importance of timing the market perfectly. In most cases, market timing has been found to have a significant impact on trading results.
At the time of writing, PEPE had fallen 0.79% in the previous 24 hours to $0.00001204. The frog-themed cryptocurrency has slowly declined since hitting an all-time high of $0.0000171 on May 27. PEPE hit a low of $0.00001057 in yesterday’s trading session as profit taking continued and the market saw a crash before quickly rebounding.
About the author
Tomiwabold Olajide
Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analyzes and trading predictions on estimated market trends. Tomiwabold graduated from the University of Lagos.