👀 231 Billion PEPE Withdrawal Shakes Major US Exchange: Bullish Signal?
On Sunday morning, an anonymous cryptocurrency whale made waves by purchasing 231.6 billion PEPE tokens from Kraken, valued at approximately $2.9 million. This acquisition boosts the whale's total holdings to 750.34 billion PEPE, worth $8.34 million since mid-March, according to Lookonchain.
PEPE, a meme cryptocurrency inspired by the iconic cartoon frog, has been a hot topic since its debut last May. The token has seen significant trading activity from various investors, including this major whale. A year on, PEPE continues to dominate headlines with large-scale transactions.
This whale's substantial investment indicates a strong belief in PEPE's potential for further growth, especially given the token's impressive gains to date. Speculation is rife that this whale anticipates more upward movement, likely driven by bullish market trends.
💬 A whale bought 231.6B PEPE ($2.9M) from Kraken again 7 hours ago.
The whale has bought a total of 750.34B PEPE ($8.34M) from Kraken at an average price of $0.00001111 since Mar 16
— Lookonchain June 9, 2024
Despite market volatility, the recent whale activity suggests a positive outlook for PEPE. Currently trading at $0.000013 per token—40% below its all-time high but up 1,040% since the start of the year—PEPE's performance has been noteworthy.
Interestingly, PEPE often moves in tandem with Ethereum (ETH), making it a potential indicator for ETH's performance. This unique correlation adds another layer of intrigue to the popular meme cryptocurrency.
Overall, the large PEPE purchase from a major US exchange signals a bullish outlook for this meme-based token. Enthusiasts should keep a close watch to see if this whale's bet pays off.
