Giant PEPE Whales Accumulate 881B+ Coins: What’s Happening?

Large PEPE Accumulations Drive Market Activity

In a recent flurry of activity, two prominent investors have amassed substantial holdings of the popular meme coin, PEPE.

Significant Withdrawal from Kraken

One whale, identified by Lookonchain as "0x689d6140," withdrew 231.6 billion PEPE valued at over $2.9 million from Kraken on an early morning update. This substantial withdrawal follows a previous transaction where the whale transferred 36 billion PEPE from the same exchange.

Cumulative Holdings

Blockchain analysis reveals that this whale has been actively accumulating PEPE since March, with total outbound transactions from Kraken totaling over 750.34 billion tokens, worth approximately $8.34 million.

Continued Accumulation

Notably, the whale has continued to accumulate PEPE without making any sales during the coin's recent surge and subsequent dip. In late May, at the height of PEPE's all-time high, the whale acquired 123.8 billion tokens.

Additional Accumulation

In addition to the aforementioned whale, another investor has accumulated over 647 billion PEPE from Binance, further bolstering the cryptocurrency's momentum.

Market Implications

These significant PEPE acquisitions by prominent investors suggest strong confidence in the coin's long-term prospects, despite current market conditions. As whales continue to accumulate, it is likely that PEPE's value will continue to rise, attracting even more investors to this high-performing meme coin.