Pepe Coin (CRYPTO: PEPE), a meme-inspired cryptocurrency, outperformed other popular meme coins such as Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) in the last 24 hours, in terms of market capitalization.

What Happened: At the time of reporting, PEPE is valued at $0.00000135, which means owning $1.35 can make someone a PEPE millionaire, with 1 PEPE equivalent to 740,740.74.

Recent data has shed light on a notable whale transfer of PEPE tokens that coincided with the positive price trend.

Lookonchain, a tracking site, revealed that a Pepe whale recently initiated a substantial withdrawal of 2 trillion PEPE tokens from Binance. This withdrawal is estimated to be worth around $3 million.

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Why It Matters: Further information from Lookonchain highlighted the actions of this particular whale.

On two previous occasions, the whale withdrew 3.94 trillion PEPE tokens equivalent to $6.46 million at that specific time, with withdrawals made on June 27 and July 5. 

Additionally, the whale deposited 3.94 trillion PEPE tokens, valued at $7.06 million at that time, on July 14, resulting in a profit of approximately $600,000.

Photo Courtesy: Shutterstock.com

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