On Sunday morning, an unidentified crypto whale made a significant investment in PEPE tokens, purchasing 231.6 billion tokens from Kraken. This move, valued at approximately $2.9 million, adds to the whale’s existing holdings of 750.34 billion PEPE tokens, worth $8.34 million since mid-March, as reported by Lookonchain.
PEPE, a meme-inspired cryptocurrency that gained traction since its inception in May, has captured the attention of investors and traders alike. The ongoing buying and selling activities surrounding the token have attracted notable interest from various market participants, including this whale. The continuous flow of major transactions involving PEPE continues to draw attention.
This recent investment by the whale underscores a strong belief in the growth potential of PEPE, despite the token’s previous impressive gains. The whale’s actions suggest a positive outlook, possibly anticipating further upward movement driven by favorable market trends.
Even amidst market volatility, PEPE is currently trading at $0.000013 per token, marking a 40% decline from its all-time high. Nonetheless, the token has shown remarkable growth of 1,040% since the beginning of the year.
Interestingly, PEPE’s price movements often parallel those of Ethereum (ETH), establishing a potential correlation between the two assets. This unique relationship between PEPE and ETH adds an intriguing aspect to the narrative of the popular meme cryptocurrency.
The significant purchase of PEPE tokens from a prominent U.S. exchange serves as a noteworthy event in the crypto market, indicating a positive outlook for the meme-based token. Enthusiasts and investors are advised to monitor this whale’s investment closely to observe the outcome of their strategic move.
