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- Crypto whales continue to make substantial purchases of Pepe (PEPE).
- Meme coins are once again leading the surge in the crypto market, with whales making significant purchases.
- According to data shared by on-chain analysis platform Spot On Chain, a whale with the wallet address “0x323” bought 915 billion PEPE worth $7.7 million at a cost of $0.000008466 on May 5.
Crypto whales are making substantial investments in Pepe (PEPE), a meme coin that’s leading the current surge in the crypto market. This article explores the recent buying trends and their potential impact on the market.
Whale Purchases Drive Pepe (PEPE) Surge
Pepe (PEPE), a meme coin, is witnessing a significant surge in its value, driven by substantial purchases from crypto whales. According to data from on-chain analysis platform Spot On Chain, a crypto whale with the wallet address “0x323” made a massive purchase of 915 billion PEPE coins, worth $7.7 million, on May 5. The cost per coin was $0.000008466.
Continued Interest from Crypto Whales
Another whale made a purchase of 142 billion PEPE coins worth $1.26 million at a cost of $0.000008831 on May 6. This whale has made seven different PEPE transactions in the last six months, six of which resulted in profit. The total profit exceeded $915,000. These transactions highlight the continued interest of crypto whales in meme coins, particularly PEPE.
Market Response to Whale Purchases
These substantial purchases by crypto whales have had a noticeable impact on the market value of PEPE. According to CoinGecko data, PEPE has shown a 5% increase in the last 24 hours and is currently trading at $0.000008871. The continued interest and investment from crypto whales are likely to keep driving the value of PEPE and other meme coins in the crypto market.
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Conclusion
The recent surge in the value of Pepe (PEPE) and other meme coins is largely driven by substantial purchases from crypto whales. As these whales continue to show interest in meme coins, the market is likely to witness further increases in value. However, investors should remain cautious and make informed decisions as the crypto market is known for its volatility.
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