Pepe Coin: Nascent Venture Company Withdraws 447.6 Billion PEPE from Binance

The crypto whale movement of Pepe Coin has been detected again. About 14 hours ago, in the early hours of Saturday, The venture company Nascent was tracked to have withdrawn a total of 447.6 billion PEPE from the crypto exchange Binance.

Such a large amount of meme coin is equivalent to US$5.4 million at the time of the withdrawal transaction. Meanwhile, the price of PEPE has weakened by 8 percent in the last 24 hours, standing at around US$0.00001316 on Saturday evening.

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The massive withdrawal by the crypto whale Pepe Coin, Nascent Ventures, is described as a strategic purchase amid the crypto market downturn, which is currently down by 3 percent in a day. This move demonstrates optimism about the potential of PEPE despite price fluctuations.

Venture Capital Nascent made a significant move in the crypto world by acquiring 447.67 billion PEPE tokens worth US$5.4 million, taking advantage of opportunities presented by the recent market decline, also known as a "buy the dip" action.

This substantial purchase, followed by the withdrawal from the exchange, allows Nascent to capitalize on the lower price while strengthening PEPE's position in their portfolio, as reported by Coingape.

With this strategic acquisition, Nascent not only secures potentially profitable investments but also elevates this green frog-themed meme coin to a prominent position in their portfolio. This indicates confidence in the future prospects of this token despite the current uncertain market conditions.

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Tracking Pepe Coin Crypto Whale

On-chain monitoring via the Spot On Chain website reveals that Nascent made a purchase of 447.67 billion PEPE tokens (worth US$5.4 million) from Binance, marking their initial step in PEPE investment.

With the current token value showing a floating profit of US$262,000 (+4.8 percent), Nascent's strategic move seems to yield positive early results. PEPE now holds the top position in Nascent's portfolio, surpassing MKR tokens, with their total investment gains reaching an impressive figure of US$2.45 million (+248 percent).

This strong performance demonstrates the success of Nascent's investment strategy and reinforces their confidence in PEPE's growth potential in the crypto market landscape.

Despite bullish investment from Nascent as a Pepe Coin crypto whale, the price of PEPE has still declined by 8 percent in the last 24 hours, with the token currently trading at US$0.00001316 on Saturday evening, according to Coinmarketcap.com.

This pressure adds to the week's decline of 15.6 percent, slightly reducing the previous return in May, which had reached 100 percent in the last 30 days.

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Furthermore, the open interest of PEPE, reflecting dynamics in the derivative market, has experienced a significant decrease of 17.63 percent, indicating caution and sentiment among investors.

Despite facing these challenges, PEPE maintains a circulating supply of 420 trillion tokens, contributing to a market capitalization of US$5,516,806,172.

This analysis provides insights into the complexity of the crypto market, where despite strategic investments from Pepe Coin crypto whales like Nascent, price fluctuations and market dynamics continue to influence asset valuations and investor sentiment.

Publisher: Riswanda Nurrohman
Source: https://blockchainmedia.id/whale-kripto-pepe-coin-perusahan-ventura-nascent-tarik-4476-miliar-pepe-dari-binance/