Whales Accumulate Pepe Coin for Over a Month

Whales Accumulate Pepe Coin for Over a Month

Whales have been accumulating Pepe Coin for over a month, leading to a surge in its price. Data from IntoTheBlock shows that wallets holding over $100,000 in assets have increased their Pepe Coin holdings, and 100% of PEPE investors are currently in profit. The price recently reached an all-time high of $0.00001156 but has since experienced a slight pullback.

Whales' PEPE Coin Accumulation

Lookonchain, a renowned on-chain platform, reported that a whale purchased 520 billion Pepe Coin on May 15, indicating bullish sentiment for the PEPE price. The whale acquired $5.28 million worth of PEPE from Binance.

Notably, the whale has been accumulating tokens for an extended period and has not sold any of the ten tokens purchased to date. Lookonchain suggests that the whale continues to trade at a net loss of $6.1 million, with only five tokens showing a 50% profit margin.

Separately, a wallet associated with BlockTower Capital purchased 202 billion PEPE worth $2.2 million through Cumberland, a crypto trading firm. It's worth noting that BlockTower Capital's main hedge fund has been partially drained by fraud.

PEPE Coin's Highest Price

The all-time high for PEPE is currently $0.00001156. After reaching this level, the price dropped by 4.72% in 24 hours due to profit-taking by whales. At the time of writing, the price stands at $0.00001034.

The lowest and highest prices over the past 24 hours were $0.00001004 and $0.00001156, respectively. Trading volume has declined by 24% in the last 24 hours, indicating diminished interest among investors.

PEPE's market cap has fallen to $4.3 billion after the 4% drop.

The original article was first published on COINTURK NEWS.