Whales, known as the market’s deep-pocketed investors, have been buying massive amounts of Pepe coins (PEPE) in recent weeks, according to the on-chain data analytics platform Lookonchain. Details of the purchases are here.
First, the most remarkable whale according to the data from transactions one by the address with the alias @osf_rekt. The whale in question bought 613 billion PEPE from June 14 to July 11. Whale spent 536 ETH ($1.04 million) for this purchase, with an average purchase price of $0.00000169. Another striking detail regarding the whale’s transactions is that this large investor transferred 690 billion PEPE ($1.05 million) to a secure multisig wallet.
Another remarkable whale transaction was made by the address 0x025a4f00b128f821061f35e571dc2463d565403c. This whalespent 400,000 USDC to purchase 263 billion PEPEs. PEPE was trading at $0.000001519 at that time, but then it went up to $0.000001536. Therefore, he made a significant profit from the whale purchase transaction.
Finally, thegreatmando.eth address (also known as @rektmando) pulled 635 billion meme coins ($1 million) from Binance on July 7. This whale had previously purchased these PEPEs for an average of $0.00000149, so it also made a significant profit on this investment.
These purchases show that the demand for Pepe coin is increasing. Whales buying large quantities of PEPE could cause the coin to rise in value and affect the liquidity in the market. Pepe coin is a digital asset gaining popularity in the cryptocurrency world, and the interest of these whales is attracting attention among investors and market participants.
However, the buying actions of whales can also be interpreted as price manipulation in the crypto markets or moves to follow a certain trend. Whales can trigger market volatility and affect small investors due to large asset ownership and market influence.
It is also worth noting that there are few selling transactions apart from large purchases. Dimethyltryptamine.eth had another big sale, purchasing a total of 5.9 trillion PEPE for just $251. The meme coin whale has disposed of a total of 180 billion PEPE worth approximately $279,000.
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