Major Ethereum Meme Coin Whale Hits Binance to Take Profit

Its not every day you see a whale like this make a move, but today, the Ethereum-based entity “marketparticipant.eth” decided to take profits in a big way. The blockchain analytics platform Onchain Lens tracked the transfer: 325.48 billion PEPE tokens — valued at about $4.9 million — were sent to Binance in one transaction.

This was not a spur-of-the-moment decision. The transfer marked the end of what looks like a 10-month accumulation strategy. Back in April 2024, the investor began picking up PEPE tokens during market dips, buying consistently and carefully.

Their average price？ Somewhere around $0.000007 per token. Fast forward to today, and that same token stash was worth $0.000015 per token — a pleasant 214% increase.

The timing seems deliberate. Recently, there has been a noticeable pattern of large meme coin holders locking in gains. PEPE is one of the top meme coins by market cap.

While the market has been relatively calm, whales like “marketparticipant.eth” seem to be taking no chances, cashing out while prices remain at the higher range.

PEPE out, cash in

Interestingly, this whale was not always on the radar. Blockchain records suggest that they had no history of big transactions before diving into PEPE. The choice to send everything to Binance is telling. The world's largest crypto exchange is a go-to for turning digital asset holdings into fiat or stablecoins, so the intention to lock in profits is clear.

The PEPE market itself took the move in stride, with no major price shock after the deposit. Still, smaller investors are keeping a close eye — whale movements like this can often foreshadow short-term turbulence. For now, PEPE trades at $0.0000149, down another 7.06% since the week's beginning.