Crypto Whales Invest Big in Pepe (PEPE) Meme Token Amid Price Correction

  • Crypto whales have demonstrated a notable attraction to the Pepe (PEPE) meme token, making purchases amounting to more than $8 million during a recent market dip.
  • This buying trend follows a turbulent period marked by PEPE’s significant price surge at the end of May.
  • One of the standout purchases involved a wallet associated with the investment firm Nascent, acquiring an impressive $5.5 million worth of PEPE tokens.

Large-scale PEPE acquisitions by crypto whales during a market correction signal continued bullish sentiment and potential future gains for investors observing key support levels.

Substantial Whale Activity in PEPE Market

Recent on-chain data reveals significant PEPE token purchases by crypto whales over the weekend. For instance, on June 7, an investment wallet linked to Nascent bought about $5.5 million worth of 447.67 billion PEPE tokens from Binance. This transaction made PEPE the dominant asset in Nascent’s portfolio, surpassing Maker (MKR) and Tether USD (USDT), which held $2.98 million and $973,557, respectively.

Additionally, on June 8, another noteworthy transaction saw an anonymous whale purchasing approximately $2.9 million worth of 231.64 billion PEPE tokens from Kraken. According to Lookonchain, this transaction was part of a cumulative purchase of 750.34 billion PEPE valued at $8.34 million since mid-March, at an average purchase price of $0.00001111.

Price Analysis and Market Trends for PEPE

These significant purchases took place during a consolidation phase for the PEPE token. Following a notable surge at the end of May, sparked in part by heightened interest in meme tokens, PEPE reached an all-time high of $0.00001717 on May 27, before stabilizing between $0.00001490 and $0.00001340.

By June 7, PEPE’s price had decreased to $0.00001277, with a brief dip to $0.00001198. This decline was attributed to the token failing to maintain support at $0.00001369. Currently, strong support is observed around $0.00001218, with future price movements likely contingent on activity around this level. As of now, PEPE trades at $0.00001246, reflecting a 43.1% increase over the past month despite recent market fluctuations.

Crucial Takeaways for Investors

Observing the intensified interest from crypto whales during PEPE’s price correction suggests a continued bullish outlook and potential upward movement. Key points for investors include:

  • Significant interest from whales can signal potential future value for PEPE.
  • Current support levels are pivotal for predicting the token’s price movements.
  • Monitoring on-chain data for significant wallet activities remains crucial.
  • Despite recent fluctuations, PEPE has shown impressive growth over the past month.


In summary, the considerable whale activity within the PEPE market during recent price corrections underscores ongoing interest and a promising outlook for future gains. Investors are advised to keep an eye on support levels and emerging on-chain data to make well-informed decisions.

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Gideon Wolf
Gideon Wolf
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.

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