Updated information on the activities of PEPE sharks in the cryptocurrency market
Notable movements of PEPE sharks
On June 18, according to tracking data from Onchain Lens, a large shark executed a significant transaction with PEPE token. Specifically, this shark sent 600 billion PEPE to Binance, equivalent to 6.1 million USD. This transaction drew attention due to its scale significantly affecting the meme coin market, which has been very volatile recently.
Trading operations – Incremental profit or loss
Previously, this shark withdrew 2.2 trillion PEPE, worth 27.73 million USD, and then sent it back to its wallet after a month of holding – worth 24.25 million USD. This clearly reflects the volatility and token rotation strategy of sharks, aimed at maximizing profits or minimizing risks in the turbulent cryptocurrency market.
The influence of sharks on the PEPE market
Such actions by sharks often create significant price shifts, increasing the volatility of this meme token. Retail investors need to closely monitor these activities to make reasonable investment decisions and avoid being swept away by uncontrolled fluctuations.
The potential and risks of meme tokens in the cryptocurrency market
PEPE stands out in the meme token wave with a significant market capitalization. However, the actions of sharks can lead to extreme volatility, posing high risks for small investors. Understanding the movements of sharks will help investors develop appropriate strategies to avoid severe losses during trading.
Source: https://tintucbitcoin.com/ca-voi-chuyen-61-trieu-usd-pepe-toi-binance-nguy-co-thanh-ly-cao/
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