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<p>The post <a href="https://coinpedia.org/news/smart-trader-made-15-62-million-in-pepe-and-mog-heres-how/" rel="noopener noreferrer nofollow">Smart trader made $15.62 million in PEPE and MOG, Here’s How</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The current market sentiment is quite bearish as top assets including Bitcoin (BTC) and Ethereum (ETH) have crashed by 6% and 7% respectively, in the last 24 hours. This massive downturn has created notable selling pressure across the market. In response to this selling pressure, whales and investors have started booking profits.</p>
<h2 class="wp-block-heading" id="h-smart-trader-made-15-62-million-in-profit"><strong>Smart trader made $15.62 million in profit</strong></h2>
<p>Amid this heavy selling, a smart trader made a notable profit of $15.62 million in Mog (MOG) and Pepe (PEPE), as shared by on-chain analytic firm Lookonchain.&nbsp;</p>
<p>In a post on X (previously Twitter), <a href="https://x.com/lookonchain/status/1819064079363019094" target="_blank" rel="noopener noreferrer nofollow">Lookonchain</a> shared that the smart trader who bought a massive 515.42 billion PEPE tokens worth $861,000 from KuCoin in 2023, has recently dumped just 95 billion PEPE tokens and made a huge $1.08 million. Currently, his holdings in PEPE are worth $4.18 million, bringing the total PEPE profit to $4.4 million.&nbsp;</p>
<p>Along with PEPE, this smart trader also purchased 7.1 trillion MOG tokens worth $262,500 in 2023 and has recently sold 786 billion MOG tokens for $1.29 million between May and August 2024. With this sale, the smart trader made a profit of a remarkable $11.22 million.</p>
<p>Despite this massive selling, this trader still holds a notable 420.42 billion PEPE tokens and 6.3 trillion MOG tokens in a new wallet.&nbsp;</p>
<h3 class="wp-block-heading" id="h-pepe-price-performance"><strong>PEPE price-performance</strong></h3>
<p>Amid this massive <a href="https://coinpedia.org/price-analysis/pepe-price-plunges-as-whale-moves-400b-units-whats-next-for-the-meme-coin/" rel="noopener noreferrer nofollow">selling pressure</a>, PEPE has experienced over 13% downside momentum in the last 24 hours. Meanwhile, its trading volume is up by 70%, signaling higher participation from investors and traders. On the other hand, MOG has experienced over 21% downside momentum in the same period.&nbsp;</p>
<h2 class="wp-block-heading" id="h-pepe-technical-analysis"><strong>PEPE technical analysis</strong></h2>
<p>According to expert technical analysis, PEPE is near a strong support level of $0.000010. If it fails to sustain this crucial level, it could experience a price drop of 10%.</p>
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/08/02013734/PEPEUSDT_2024-08-02_01-37-10.png" rel="noopener noreferrer nofollow"><img decoding="async" width="1024" height="449" src="https://image.coinpedia.org/wp-content/uploads/2024/08/02013734/PEPEUSDT_2024-08-02_01-37-10-1024x449.png" alt="" class="wp-image-333808" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/02013734/PEPEUSDT_2024-08-02_01-37-10-1024x449.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/02013734/PEPEUSDT_2024-08-02_01-37-10-300x131.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/02013734/PEPEUSDT_2024-08-02_01-37-10-768x336.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/02013734/PEPEUSDT_2024-08-02_01-37-10-1536x673.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/02013734/PEPEUSDT_2024-08-02_01-37-10-150x66.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/08/02013734/PEPEUSDT_2024-08-02_01-37-10.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
 <figcaption class="wp-element-caption">
  Source: TradingView
 </figcaption>
</figure>
<p>Based on the historical data and price momentum, since February 2024, PEPE has consistently moved above the 200 Exponential Moving Average (EMA). However, this time it is near its 200 EMA, and there is a high chance that it could either stay at this level or experience a price reversal in the coming days.&nbsp;</p>

Smart trader made $15.62 million in PEPE and MOG, Here’s How

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