A lot of altcoins and memes are pumping right now, riding the wave of Trump’s potential win in the US elections and his path to becoming the 47th American president.
PEPE, one of the market’s favorite meme coins, is having quite a run with a solid 17% price jump today.
Blockchain data platform LookOnChain just spotted some serious whale action during this pump. Three big players have moved a massive 835.6 billion PEPE tokens (worth around $7.94 million) out of Binance and Gate.io exchanges in just the last hour.
Whales are accumulating $PEPE!In the past hour, 3 whales withdrew 835.6B $PEPE($7.94M) from #Binance and #Gateio!0x51Cc withdrew 535.81B $PEPE($5.09M) from #Binance.https://t.co/2Bjy1s07j50xa586 withdrew 163.37B $PEPE($1.44M) from #Binance.https://t.co/QYR3aPhb000xd3B0… pic.twitter.com/UJh1YjqG0B
— Lookonchain (@lookonchain) November 6, 2024
The biggest move came from a wallet ending in 51Cc, pulling out 535.81 billion PEPE (about $5.09 million) from Binance. Another whale with an address ending in a586 grabbed 163.37 billion PEPE ($1.44 million) from Binance too. The third whale, wallet ending in d3B0, moved 135.45 billion PEPE ($1.3 million) from Gate.io.
This kind of whale activity usually turns heads in the crypto world. When big players move this much money off exchanges, it’s often a good sign – they’re probably not planning to sell anytime soon. These tokens are likely heading to cold storage, which means less PEPE available for trading on exchanges. For current PEPE holders, this could mean less selling pressure in the market.
Read also: Dogecoin Price Pumps 30% as DOGE Overtakes XRP – Here Are All the Details
But remember – the crypto market can turn on a dime, especially with meme coins. Even with whales making moves, nothing’s guaranteed in this space.
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The post Meme Coin Whales Massively Accumulate PEPE as Price Pumps appeared first on CaptainAltcoin.
