231 Billion PEPE Withdrawal Stuns Major US Exchange: Bullish?
On Sunday morning, an unknown cryptocurrency whale bought 231.6 billion PEPE tokens from Kraken, valued at about $2.9 million. This recent purchase adds to the whale's total holdings of 750.34 billion PEPE, amounting to $8.34 million since mid-March, reports Lookonchain.
PEPE, a meme cryptocurrency inspired by
a famous cartoon frog, has been a hot
topic since its debut last May. The token
has seen substantial buying and selling
activity from various investors, including
the biggest one. A year later, the trend
continues with major transactions still
making headlines.
The whale's recent investment indicates a
strong belief in PEPE's potential for further
growth. This is notable given the token's
already impressive gains. The speculation
is that this whale expects more upward
movement, possibly driven by bullish
market trends.
Despite a volatile market, the recent whale activity suggests a positive outlook for PEPE on their behalf. The token is currently trading at $0.000013 per token, which is 40% below its all-time high but still up by an impressive 1,040% from the start of the year.
Interestingly, PEPE often moves in sync with Ethereum (ETH), making it a potential indicator for ETH's performance. This unique relationship adds another layer of interest for popular meme cryptocurrency.
Overall, the large purchase of PEPE from the major U.S. exchange is a notable event in the cryptocurrency market, suggesting a bullish outlook for the meme-based token. Enthusiasts better be watching closely to see if this whale's bet pays off.
