Large investors continue to actively accumulate PEPE memcoin

Large investors continue to accumulate the PEPE token meme regardless of the sentiment in the crypto market. Lookonchain specialists tracked the activity of the cryptokit owning wallet “0x689d6140”.

Yesterday, this user withdrew 231.6 billion PEPE worth more than $2.9 million from the American exchange Kraken. Two days earlier, he transferred 36 billion PEPE from the exchange to his wallet.

According to the blockchain, since March, total outbound PEPE transactions from Kraken have exceeded 750.34 billion tokens worth more than $8.34 million.

This accumulation has not been accompanied by sales, even during PEPE's uptrend and subsequent downtrend. For example, when a large investor bought 123.8 billion PEPEs in late May, the memcoin was trading at an all-time high.

Amid a significant price correction, with the value of PEPE down more than 28% since reaching $0.00001718 ATH, the crypto-kit bought an additional 231.6 billion PEPE. Lookonchain estimates that its total purchases over the past 90 days have averaged $0.00001111 per PEPE.

Wallet “0x689d6140” isn't the only prominent investor accumulating PEPE recently. For example, the Nascent development team, which supports early-stage cryptocurrency founders, has purchased over 447.66 billion PEPE tokens on Binance.

Lookonchain discovered another new wallet that held 202.4 mln PEPEs on June 3. In total, high-net-worth investors have accumulated at least 881.67 billion PEPEs this month.

On June 4, an unknown user transferred 365.96 billion PEPEs worth $5.3 million to Binance for profit. In December 2023, he also withdrew 365.96 billion PEPE worth $494,000 from the MEXC exchange. Essentially, the investor turned $494,000 into $5.3 million in less than six months, earning a profit of $4.82 million with a return on investment of 976%.#TopCoinsJune2024 #BinanceSquareFamily