A Giant Whale Withdraws 581 Billion PEPE from Binance: Loss Exceeds 2 Million Dollars! - Coin Bulletin

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A massive cryptocurrency whale has attracted attention by withdrawing approximately 581 billion Pepe Coins from the Binance exchange (PEPE).

According to data shared by Lookonchain, a large-scale crypto investor transferred 581 billion PEPE tokens worth 7.93 million dollars from Binance to a newly created wallet just two hours ago. This transaction stands out as one of the significant movements of the whale in recent days.

The same whale is holding long positions in various cryptocurrencies such as PEPE, XRP (XRP), Bonk (BONK), and Pengu (PENGU) on the popular leveraged trading platform Hyperliquid. However, it seems that these positions have not gone as the whale wanted for now.

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According to the data shared by Lookonchain, the whale has incurred losses of over 2 million dollars on investments on Hyperliquid. Nevertheless, the whale's massive PEPE withdrawal from Binance reveals that the investor is still pursuing an aggressive strategy in the meme coin market.

Despite the loss, the insistence on meme coins

Despite the fluctuations and uncertainties in the meme coin market recently, the large investor's insistence on holding positions in risky assets like PEPE raises questions about how the market will shape up in the short term. Experts believe that this move by the whale could create new dynamics in meme coins in the future.