A significant crypto investor, known as a whale, recently acquired 231.6 billion $PEPE tokens worth $2.9 million from the Kraken exchange just hours ago. This particular whale has been consistently purchasing $PEPE tokens and has now bought a total of 750.34 billion $PEPE tokens, totaling $8.34 million, from Kraken since March 16. The average price per token in these transactions was $0.00001111, as reported by Lookonchain, a blockchain analysis platform.
The substantial investment made by this whale in $PEPE signals a strong belief in the potential of this memecoin. Memecoins like $PEPE have gained popularity among major investors as they rely on internet meme communities and excitement rather than traditional financial indicators like cash flows.
The continuous investments by whales in $PEPE suggest they are anticipating a significant increase in its value, possibly reaching new highs. The interest of such a prominent investor highlights the speculative nature of the cryptocurrency market, where actions by large players can lead to significant market fluctuations. As a result, many in the crypto community are now closely monitoring $PEPE to see if it will reach new all-time highs.
Tags: PEPE