$PEPE Trader Capitulates and Sells All 114.7B $PEPE Holdings at a Breakeven Price

Ethereum-based memecoin $PEPE has seen a resurgence today, climbing by 8% and regaining some bullish momentum. However, this slight increase prompted

A significant trader has sold all of his $PEPE holdings at a break-even price following a slight increase in the memecoin's value.

According to on-chain data, the trader initially purchased 114.7 billion $PEPE for 366.5 $ETH (around $1.27 million) on May 14 and May 15 at a price of $0.000011 per token.

The trader eventually decided to sell his whole position after purchasing the $PEPE tokens in two tranches.

The value of $PEPE had risen to $0.000017 at one point on May 27, netting him a profit of $670,000 (or 50%), on-chain data reveals. However, at that time, the trader decided not to sell.

After this high, the price of $PEPE began to decline gradually, eventually falling below the trader's breakeven point.

The trader finally capitulated and sold all 114.7 billion $PEPE for 366.5 $ETH as the price continued to drop, breaking even on his initial investment.

This $PEPE trader capitulated and sold all 114.7B $PEPE for 366.5 $ETH($1.27M) at a breakeven price.

He bought 114.7B $PEPE($1.27M) at $0.000011 on May 14 and May 15.

The price of $PEPE broke through $0.000017 on May 27, at which time his profit was $670K(+50%), but he did not… pic.twitter.com/aPxuftE1yI

— Lookonchain (@lookonchain) June 15, 2024

The recent bullish uptick in $PEPE's value has attracted the attention of many in the crypto community, as the memecoin market frequently experiences high volatility and quick shifts in investor sentiment. This instance of a trader breaking even highlights the risks and benefits of holding and trading volatile assets like memecoins.

Despite this setback for one trader, the overall mood for $PEPE is still cautiously optimistic. As the memecoin continues to experience price changes, traders and investors will probably keep a close eye on its performance, especially in light of the recent bullish momentum.

In conclusion, $PEPE's recent price action highlights the crucial role of timing in trading, especially in the volatile memecoin market. The trader's decision to sell at breakeven after passing up a substantial profit opportunity serves as a reminder of the inherent risks in the crypto space.

This is not trading or investment advice. Always conduct your own research before purchasing any cryptocurrency or making any service investments.

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News source：https://www.kdj.com/cryptocurrencies-news/articles/pepe-trader-capitulates-sells-b-pepe-holdings-breakeven-price.html

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