Search
Close this search box.
Main page /
A Crypto Whale Invests $10.4 Million in Meme Coin PEPE

A Crypto Whale Invests $10.4 Million in Meme Coin PEPE

Discover the latest trends in the cryptocurrency market with a focus on PEPE, the meme coin making waves.
3 minutes
06.05.2024
Editor Satoshi`s Secrets
A Crypto Whale Invests $10.4 Million in Meme Coin PEPE

In Brief

A crypto whale has injected $10.4 million into PEPE, acquiring 1.238 trillion tokens. Over the last month, PEPE has surged by 29.70% in value.

A significant development has rocked the cryptocurrency sphere, with reports of a crypto whale funneling $10.4 million into the meme coin PEPE.

This noteworthy investment, occurring amidst a flurry of market activity, has sparked intense speculation about the trajectory of this meme-inspired digital asset.

The transaction, highlighted by the reputable crypto analytics platform Spot On Chain, unveiled details surrounding a multi-signature wallet identified as 0x1a2e64b8a1977bf018850b377020bc33eaaac3c9. This wallet orchestrated the transfer of a staggering 915.85 billion PEPE tokens from Binance.

This initial movement amounted to roughly $7.75 million, based on a token rate of $0.000008466.

In a rapid succession spanning 28 hours, the same wallet conducted additional withdrawals, accumulating a total of 1.238 trillion PEPE tokens from the centralized exchange. These sequential transactions culminated in the noteworthy $10.4 million PEPE investment.

Spot On Chain analysts elaborated, stating, “In total, the wallet withdrew 1.238 trillion PEPE via 2 transactions from Binance at an average rate of $0.000008424 ($10.4 million) over the past 28 hours for the initial PEPE trade. Previously, the whale garnered $146,000 (+14.2%) from one INJ trade but incurred a loss of $118,000 (-8.01%) from one RNDR trade. The whale did not retain both tokens for an extended period.”

PEPE Whale Transaction. Source: Spot On Chain

Currently, PEPE exhibits promising market trends. Despite a slight 1.2% dip in the last 24 hours, the meme coin has soared by 29.70% over the last month. With PEPE trading at $0.000008532, its position above the 50-day Simple Moving Average and a healthy Relative Strength Index of 62.78 indicate a stable market sentiment, reinforcing investor confidence.

PEPE Price Analysis. Source: TradingView

The influx of significant capital into PEPE highlights an expanding interest in niche cryptocurrencies. Indeed, these tend to benefit from robust community support and a meme-based allure. PEPE’s unique frog-themed branding has endeared it to a broad audience, contributing to its growing traction in digital currency.

Although the motives of the whale remain undisclosed, market analysts suggest that the investor might be capitalizing on the rising potential of meme coins to diversify their investment portfolio and harness nascent market opportunities.

Want to know more?

Subscribe to our exclusive Telegram channel for more news, plus real-time buying and selling signals to enhance your profits. Our market experts tirelessly monitor trends 24/7 to bring you the optimal transaction moments directly.

You may be interested in

The Rise of Toncoin and Telegram Clicker Games: A Bullish Outlook

The Rise of Toncoin and Telegram Clicker Games: A Bullish Outlook

Discover how TON is poised for mass adoption and innovation in the GameFi space.
4 minutes
13.06.2024
Blum: Hybrid crypto exchange with free BP token farming, by former Binance CEO in CIS

Blum: Сrypto exchange with free BP token farming, by former Binance CEO in CIS

Discover Blum, the innovative hybrid cryptocurrency exchange that integrates seamless trading into Telegram.
4 minutes
12.06.2024
Diaverse Game: Transform Your Steps into Cryptocurrency

Diaverse Game: Transform Your Steps into Cryptocurrency

Explore the innovative blend of fitness and finance, track your steps, and earn XDV tokens.
1 minutes
11.06.2024
Join the AWUFoundation Airdrop and Earn 15 Homs Tokens (~$6)

Join the AWUFoundation Airdrop and Earn 15 Homs Tokens (~$6)

Join the AWUFoundation Airdrop to earn 15 Homs tokens (~$6) and support the mission of providing housing for the poor.
2 minutes
06.06.2024

Join our exclusive Telegram channel!

Get timely signals for buying and selling cryptocurrencies to maximize your profits. Our experts analyze the market 24/7, picking the best moments for transactions just for you.