Key Points:
Another early PEPE investor sold 932 billion PEPE for 524 $ETH or $870,000.
The sale action was taken after the project moved 16 billion tokens to the exchanges.
The community is suspicious of the project teams rugpull actions.
According to on-chain data analytics firm Lookonchain, an early PEPE investor has collected 524 ETH, or $870,000, after selling his 932 billion tokens.
This action comes after the multisig wallet of this memecoin project and Wintermute Trading sent 17.3 trillion dollars in PEPE ($18 million) to exchanges about 4 hours ago.
The discovery also revealed that 3 hours ago, an early buyer of $PEPE sold $1.88 billion of this token for $1,010 of ETH ($1.68 million) on the DEX.
Or another investor who spent $5k to buy $1.6 trillion in PEPE from April 15th to April 17th and sold for $260k on April 21st, earning 255 thousand dollars (49 times). He then spent $265k to buy $965B in PEPE from April 22nd to April 25th and sold for $900k in August, earning $636k (double).
A series of massive transactions by investors and project teams has caused this token to fall into the abyss with a drop of more than 16% in the last 24h.
These unusual transactions have puzzled the crypto community. In addition, many people have theorized that the project team is about to sell off tokens and may have started a rug pull as the project‘s Twitter hasn’t tweeted in the past 2 weeks.
Although once a large cryptocurrency with a market capitalization of up to $1.63 billion, today this figure is only $ 362 million. This further reinforces the great uncertainty and risk for investors in memecoin, a token with no real value.