Smart Money Buys over 142 Billion Pepe (PEPE) Tokens: Details

Cover image via U.Today

A substantial acquisition of Pepe (PEPE) tokens has recently been disclosed, garnering attention from both investors and ardent followers of digital assets. Details of this significant purchase were unveiled through Lookonchain, a leading blockchain analytics platform, which provided insights into the transaction.

According to Lookonchain's data, a significant investment of 1.26 million USDC was deployed to procure 142.96 billion PEPE tokens at a unit price of $0.000008831. Notably, this strategic move has been part of a series of transactions orchestrated by a savvy trader, colloquially referred to as "smart money." The trader has engaged in Pepe trades on multiple occasions over the past six months.

A $PEPE smart money spent 1.26M $USDC to buy 142.96B $PEPE at $0.000008831 2 hours ago.The smart money has traded $PEPE 7 times in the past 6 months, 6 of which were profitable, with a win rate of 85.7%, and the total profit is $915K.https://t.co/92nzYbyfsY pic.twitter.com/Lsqf56W6hB— Lookonchain (@lookonchain) May 6, 2024

This acquisition, characterized by its sheer volume and meticulous planning, underscores the growing interest in meme coins within the crypto market. The infusion of such discerning capital is poised to catalyze fresh momentum in Pepe's price trajectory, which has already exhibited resilience and upward mobility.

PEPE price movements

At the time of reporting, Pepe is trading at $0.000009029, reflecting a substantial increase of 5.55% within the past 24 hours alone. Impressively, the token has experienced a remarkable surge of 30.42% over the preceding seven days, further solidifying its status as a lucrative investment option.

The bullish sentiment surrounding Pepe is further reinforced by various technical indicators. For instance, the Relative Strength Index (RSI) for PEPE currently stands at 65.32, positioning it within the neutral zone but signaling a propensity toward a bullish trend. Additionally, Pepe's trading position above its 200-day Exponential Moving Average (EMA) underscores sustained upward momentum in its price trajectory.

Overall, this substantial acquisition of Pepe tokens not only shows the growing prominence of meme coins but also highlights the increasing sophistication of traders navigating this dynamic landscape. Strategic maneuvers such as these are poised to shape the future trajectory of digital assets like Pepe, exerting a profound influence on sentiment and market dynamics in the process.