š„š„ Crypto whales have shown strong interest in the Pepe meme coin, purchasing over $8 million worth during a price correction.
Interestingly, this acquisition comes as PEPEās price fluctuates following its peak in late May.
Crypto Whalesā Strategic Moves in PEPE
On-chain data reveals crypto whalesĀ bought large amounts of PEPEĀ during the weekend. On June 7, aĀ walletĀ linked to investment firm NascentĀ acquiredĀ 447.67 billion PEPE from Binance, totaling around $5.5 million. This move made PEPE the largest asset in Nascentās portfolio, surpassing Maker (MKR) and Tether USD (USDT), which hold $2.98 million and $973,557, respectively.
Another significant purchase occurred on June 8. An unidentified whaleĀ boughtĀ 231.64 billion PEPE worth approximately $2.9 million from Kraken. Lookonchain reported that this transaction builds on a string of purchases.
āThe whale has bought a total of 750.34 billion PEPE ($8.34 million) from Kraken at an average price of $0.00001111 since March 16,ā it added.