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- Onchain data reveals that four different whale wallets have been accumulating significant amounts of this memecoin.
- Some crypto whales have been found to be hoarding large amounts of PEPE.
- According to data provided by Lookonchain, the whale wallet with the short address 0xa145 withdrew PEPE tokens worth $3.44 million from Binance.
Whale wallets are accumulating PEPE tokens, with onchain data revealing four wallets holding significant amounts. This article delves into the details and implications of this trend.
Whale Wallets Accumulating PEPE Tokens
Onchain data has revealed that four different whale wallets have been accumulating significant amounts of PEPE tokens. This trend has been observed across various crypto platforms, with some whales hoarding large amounts of PEPE. According to data provided by Lookonchain, the whale wallet with the short address 0xa145 withdrew PEPE tokens worth $3.44 million from Binance. Analysts suggest that this whale has so far made a profit of $2.66 million from PEPE.
Other Whales Joining the Trend
Another whale, with the short address 0xa4Fd, exchanged $1.09 million worth of USDC for PEPE at a price of $0.00000881. The third whale, with the short address 0x24E3, according to the data, purchased PEPE tokens worth $661,000 at a price of $0.000008873. The last whale, with the short address 0x895f, made a purchase of PEPE worth $885,000 from Binance.
Current Market Position of PEPE
At the time of writing, the price of PEPE is trading at $0.00000852. With a market value of $3.58 billion, the token currently ranks as the third largest memecoin in the world, behind Dogecoin (DOGE) and Shiba Inu (SHIB). The token’s market value has seen a peak of approximately $4.20 billion. PEPE is currently trading at about 20% below its all-time high price level.
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Conclusion
The accumulation of PEPE tokens by whale wallets indicates a growing interest in this memecoin. As the market position of PEPE continues to strengthen, it will be interesting to see how this trend develops and what impact it will have on the crypto market.
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