Binance, a prominent centralized crypto exchange, has recently experienced a significant outflow of PEPE tokens, a well-known meme coin, totaling 1.19 trillion tokens valued at approximately $1.88 million. Reports indicate that a trader is responsible for this massive movement of tokens.
The trader in question managed to generate an impressive $8.13 million in profits with the PEPE tokens, marking a substantial increase of 431% in earnings. Lookonchain, a popular on-chain statistics provider, highlighted this event on social media, revealing that the trader initially deposited 196.18 billion PEPE tokens worth $1.7 million on Binance before withdrawing over one trillion tokens.
The withdrawal of such a large amount of PEPE tokens from Binance has caused a stir within the PEPE community, with Etherscan providing official details about the transaction. Interestingly, this event occurred just before a significant increase in the value of the PEPE coin, with some investors witnessing their holdings jump from $12,108 to $104,997 within a month.
Crypto Rover, a user on social media, shared their experience of holding PEPE tokens, expressing their intentions to continue holding the tokens for further gains, aiming for a target of $2 million to $3 million. This surge in value reflects a trend seen across other popular meme coins like Shib, Doge, and Bonk during the same period, showcasing the potential for substantial profits within the crypto market.
