The cryptocurrency market is experiencing a significant shift that has drawn large PEPE investors. Even with a rising trend of sell-offs causing approximately $287 million in cumulative crypto liquidations, these PEPE big-time investors are capitalizing on the price drop by buying more PEPE within the last 24 hours, as suggested by data from Spot on Chain. At least two major PEPE investors have made substantial purchases during this period.
PEPE whale buy-ups
According to Spot on Chain data, a significant PEPE holder with the identifier “0x8f5” recently removed 280 billion tokens from Binance today. This large amount of PEPE, roughly equivalent to $5 million, represents one of the latest transactions made by this whale in the past 24 hours.
A prominent PEPE investor, known as “0xb1a,” recently poured approximately 3.72 million USDC into buying around 200.4 billion PEPE tokens. This whale stands out due to historical data indicating that they have incurred a significant loss of about $1.45 million from transactions involving PEPE tokens.
1. It’s being reported that whales are amassing PEPE tokens! Just four hours ago, whale “0x8f5” withdrew 280 billion PEPE (worth approximately $5 million) from Binance. Interestingly, this same whale also acquired 47.4 million JASMY (valued at around $1.54 million) yesterday.
2. Whale “0xb1a” recently invested 3.72 million USDC to purchase approximately 200.4 billion PEPE, which is roughly equivalent to $5 million. This whale has a history of selling off their holdings, but it remains to be seen if this time will be different.
— Spot On Chain (@spotonchain) January 13, 2025
In simple terms, wagering on PEPE is quite straightforward given its current meme coin value. At present, CoinMarketCap shows the price as $0.0000165, representing a 5.81% decrease in the last day. It’s important to mention that this price is the lowest PEPE has reached in the past week, marking a 19.51% drop from its previous levels.
Investing in stacked PEPE could be a strategic choice given the current downturn, as it ranks among the less successful in the top 100 performers. Yet, this strategy raises the probability of an upcoming price recovery.
PEPE large buyer trend
Within the popular meme coin market, PEPE seems to be particularly preferred by large investors or “whales.” This preference indicates a relationship between PEPE and Ethereum, as the whales of Ethereum are also accumulating PEPE during a continuous selling period.
Over the past month, there’s been an astonishing 4,479% increase in PEPE whale inflows in just one day, highlighting its growing appeal. At present, the PEPE Relative Strength Index (RSI) stands at 38, indicating it’s significantly oversold, potentially setting up for a shift in trend.
PEPE’s trading volume nearly reaching $1 billion indicates a substantial market liquidity, capable of driving significant investor interest.
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2025-01-13 16:16