On Sunday morning, a mysterious crypto whale purchased 231.6 billion #PEPE tokens from Kraken, worth approximately $2.9 million. With this transaction, the whale's total PEPE holdings have increased to 750.34 billion tokens, or $8.34 million USD since mid-March, according to Lookonchain.
PEPE, a meme cryptocurrency inspired by the famous cartoon frog, has gone viral since its launch last May. This token has attracted many investors, including "big guys". One year later, the huge trading trend has not cooled down.
Whale's recent investment shows strong belief in PEPE's growth potential. This is notable because PEPE has already seen impressive increases. Many people speculate that this whale is expecting PEPE to fly even higher, especially when the market shows signs of growth.
💬 A whale bought back 231.6 billion PEPE ($2.9 million) from Kraken 7 hours ago.
Whales have bought a total of 750.34 billion PEPE ($8.34 million) from Kraken at an average price of 0.00001111 USD since March 16
— Lookonchain, June 9, 2024
Despite the volatile market, this whale's actions show a positive outlook for PEPE. Currently, PEPE is trading at 0.000013 USD per token, 40% below its all-time high but still up an impressive 1,040% YTD.
Interestingly, PEPE often moves in sync with Ethereum (ETH), making it a potential indicator of ETH performance. This unique relationship adds another layer of appeal to this popular meme cryptocurrency.
Overall, the bulk purchase of PEPE from a major US exchange is a notable event in the crypto world, indicating bullish prospects for this meme token. Cryptocurrency enthusiasts should watch closely to see if this whale case turns out to be a huge success.#TopCoinsJune2024 #PEPE✈ $BTC