A prominent cryptocurrency investor, referred to as a “whale” due to the size of their holdings, has experienced a substantial loss. The investor deposited 519 billion PEPE tokens, worth approximately $5.11 million, on Binance before the cryptocurrency reached its peak in late May. Had the investor sold during this peak, they could have realized a potential profit of $3.47 million.
The exact reasons for the sale are unclear, but data indicates that the investor incurred a loss of about $207,000, representing a 3.9% decline from their initial investment. Additional analysis by Spot On Chain suggests the investor may face further financial difficulties. The report highlighted unrealized losses of $6.68 million in other cryptocurrency holdings, including AAVE and YFI.
The well-known “frog” token, which peaked at $0.0000092, has seen significant declines. Since the beginning of this week, the digital currency has lost over 23% of its value, with a peak loss of 36%. Such low prices have not been observed since early May, two months ago.
Read more PEPE Coin Faces Scrutiny Amid $4 Million Liquidation and Declining Prices
The future of the “frog” token remains uncertain. However, it appears that there is little hope for at least one major player when it comes to PEPE.
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