Large investors referred to as “whales” recently made an impressive purchase on the popular meme coin Pepe (PEPE). A total of 560.2 billion PEPE coins were purchased by the whales in question. This development was revealed by the cryptocurrency analysis platform Spot On Chain. was placed and has given rise to much debate and speculation.
According to data shared by Spot On Chain, these purchases took place during a period when the PEPE price made a significant recovery, increasing by approximately 11% in the last 24 hours. This increase stands out as part of a significant recovery following the recent crypto crash. These significant purchases by whales indicate the potential to take advantage of fluctuating market conditions and possibly make a strategic move.
Details of Pepe purchase
The first whale, identified as 0xd93, attracted attention by investing in a very large meme coin. This whale, which made a total investment of 3.86 million dollars, spent 3.67 million USDC and 300 WTAO for the purchase. The $2.52 million profit this person previously made from PEPE trading can be considered an indication of how skillfully he navigates unstable markets.
On the other hand, the second whale, known with the address 0x522, followed a different strategy. This person used other cryptocurrencies such as Shiba Inu (SHIB) and Ethereum (ETH) to obtain PEPE coins. He obtained 42.08 billion SHIB worth approximately $1.12 million and 100 billion PEPE by swapping 64 ETH for $224,000. This showed that a different approach was taken and that various strategies could be effective in the market.
The buying moves of the two whales in question have sparked numerous discussions within the crypto community.
Market analysts and crypto enthusiasts are watching the market closely to understand the potential consequences of these large-scale purchases. Some speculate that the movements of these whales could increase confidence in the PEPE market and lead to increased interest and investment in the cryptocurrency. However, others emphasize that the market is inherently uncertain and therefore caution should be exercised in drawing firm conclusions.
You can access current market movements here.
