Biden

FOMO

<div class="finbold">
 <p class="paragraph">High recent on-chain activity has registered at least three smart <a rel="noopener noreferrer nofollow" title="trade" href="https://thebittimes.com/tag/trade.html">trade</a>rs taking <a rel="noopener noreferrer nofollow" title="profit" href="https://thebittimes.com/tag/profit.html">profit</a>s from the popular meme coin PEPE. These <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency whales have made <a rel="noopener noreferrer nofollow" title="millions" href="https://thebittimes.com/tag/millions.html">millions</a> of dollars in <a rel="noopener noreferrer nofollow" title="trade" href="https://thebittimes.com/tag/trade.html">trade</a>s as <a rel="noopener noreferrer nofollow" title="retail" href="https://thebittimes.com/tag/retail.html">retail</a> jumps in with ‘Fear of Missing Out’ (FOMO).</p>
 <p class="paragraph">Finbold gathered this data from four different <em>Lookonchain</em> reports posted on X on May 22, suggesting a reversal could happen.</p>
 <h2 class="wp-block-heading" id="h-pepe-smart-traders-whale-activity">PEPE smart traders’ whale activity</h2>
 <p class="paragraph">First, an early buyer deposited all their 182.9 billion PEPE holdings, worth $2.53 million, into a Binance account. This was the remaining amount of a $462 initial purchase of 324.9 billion PEPE last year. In total, this smart trade rendered over $3.4 million in profits.</p>
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 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="472" src="https://cdn.thebittimes.com/images/2024/05/22/36a971db16565669322a83073c27ee6a.webp" alt="" class="wp-image-177477" srcset="https://cdn.thebittimes.com/images/2024/05/22/36a971db16565669322a83073c27ee6a.webp 1024w, https://cdn.thebittimes.com/images/2024/05/22/36a971db16565669322a83073c27ee6a.webp 300w, https://cdn.thebittimes.com/images/2024/05/22/36a971db16565669322a83073c27ee6a.webp 768w, https://cdn.thebittimes.com/images/2024/05/22/36a971db16565669322a83073c27ee6a.webp 1428w" sizes="(max-width: 1024px) 100vw, 1024px">
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   PEPE smart trader 1, transaction history. Source: <em>Lookonchain</em>
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 </figure>
 <p class="paragraph">Second, the institutional investment firm BlockTower Capital sent $2.8 million worth of 202 billion PEPE to Cumberland, a known market maker that provides liquidity for institutional and retail trading. The transaction happened as the meme coin price broke through $0.000014 per token.</p>
 <p class="paragraph">This was a six-day swing trade that earned BlockTower Capital $578,000 in profits on a $2.22 million investment.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="601" src="https://cdn.thebittimes.com/images/2024/05/22/b60fba66bbdb92f94af9eb19e838115f.webp" alt="" class="wp-image-177478" srcset="https://cdn.thebittimes.com/images/2024/05/22/b60fba66bbdb92f94af9eb19e838115f.webp 1024w, https://cdn.thebittimes.com/images/2024/05/22/b60fba66bbdb92f94af9eb19e838115f.webp 300w, https://cdn.thebittimes.com/images/2024/05/22/b60fba66bbdb92f94af9eb19e838115f.webp 768w, https://cdn.thebittimes.com/images/2024/05/22/b60fba66bbdb92f94af9eb19e838115f.webp 1536w, https://cdn.thebittimes.com/images/2024/05/22/b60fba66bbdb92f94af9eb19e838115f.webp 1940w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BlockTower Capital &lt;&gt; Cumberland transaction history. Source: <em>Lookonchain</em>
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 <p class="paragraph">Last, a smart trader deposited $2.83 million of PEPE to the Bybit crypto exchange as its third profitable trade. This trader is considered smart due to its 100% win rate trading PEPE, for an estimated total profit of $2.48 million.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="724" src="https://cdn.thebittimes.com/images/2024/05/22/65e3f692a16871cf80978e2c6ede739f.webp" alt="" class="wp-image-177479" srcset="https://cdn.thebittimes.com/images/2024/05/22/65e3f692a16871cf80978e2c6ede739f.webp 1024w, https://cdn.thebittimes.com/images/2024/05/22/65e3f692a16871cf80978e2c6ede739f.webp 300w, https://cdn.thebittimes.com/images/2024/05/22/65e3f692a16871cf80978e2c6ede739f.webp 768w, https://cdn.thebittimes.com/images/2024/05/22/65e3f692a16871cf80978e2c6ede739f.webp 1536w, https://cdn.thebittimes.com/images/2024/05/22/65e3f692a16871cf80978e2c6ede739f.webp 1714w" sizes="(max-width: 1024px) 100vw, 1024px">
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   PEPE smart trader 1, transaction history. Source: <em>Lookonchain</em>
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 <h2 class="wp-block-heading" id="fomo-retail-and-whales-are-still-buying">FOMO: Retail and whales are still buying</h2>
 <p class="paragraph">Meanwhile, a few hours after the last activity, another whale withdrew $7.95 million in 592 billion PEPE from Binance. <em>Lookonchain</em> estimates this resulted from a two-day purchase during a notable price pump for the meme coin.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">A whale withdrew 592B $PEPE ($7.95M) from #Binance 1 hour ago, most likely bought during the price increase over the past 2 days.https://t.co/zeCAtBN8fj pic.twitter.com/jxVEu4WBCq</p>— Lookonchain (@lookonchain) May 22, 2024
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 <p class="paragraph">On May 19, Finbold reported another <a rel="noopener noreferrer nofollow" title="trade" href="https://thebittimes.com/tag/trade.html">trade</a>r who lost $300,000 in two days of bad trading decisions with PEPE.</p>
 <p class="paragraph">Moreover, Finbold gathered data from <em>Santiment</em> showing an increased social volume, indicating increased retail interest. Usually, these social indicators peak a few days before a trend reversal, as smart trader whales take profit over the FOMOing retail.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="347" src="https://cdn.thebittimes.com/images/2024/05/22/a61361261d537d8ef9d95cd44650b999.webp" alt="" class="wp-image-177480" srcset="https://cdn.thebittimes.com/images/2024/05/22/a61361261d537d8ef9d95cd44650b999.webp 1024w, https://cdn.thebittimes.com/images/2024/05/22/a61361261d537d8ef9d95cd44650b999.webp 300w, https://cdn.thebittimes.com/images/2024/05/22/a61361261d537d8ef9d95cd44650b999.webp 768w, https://cdn.thebittimes.com/images/2024/05/22/a61361261d537d8ef9d95cd44650b999.webp 1536w, https://cdn.thebittimes.com/images/2024/05/22/a61361261d537d8ef9d95cd44650b999.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   PEPE price vs. Social Volume. Source: <em>Santiment’s Sanbase Pro</em> / Vini Barbosa for Finbold
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 <h2 class="wp-block-heading" id="meme-coins-and-the-greater-fool-theory">Meme coins and the Greater Fool Theory</h2>
 <p class="paragraph">Meme coins, such as PEPE, often lack fundamental value and are driven by hype and social media buzz. Traders who buy these coins are essentially gambling in the hope that someone else will buy them at a higher price.</p>
 <p class="paragraph">This mentality aligns with the “Greater Fool Theory,” which suggests that profits can be made by buying overvalued assets and selling them to a “greater fool.”</p>
 <p class="paragraph">However, this theory also highlights the inherent risk of such investments, as the market eventually runs out of willing buyers. When the hype dies down, and demand dwindles, traders can be left holding worthless cryptocurrencies, leading to substantial financial losses.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/smart-traders-take-millions-in-profit-from-this-crypto-as-retail-fomo-in-tbt89245.html">https://thebittimes.com/smart-traders-take-millions-in-profit-from-this-crypto-as-retail-fomo-in-tbt89245.html</a></p>

Smart traders take millions in profit from this crypto as retail FOMO in

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