Large Purchase of 227B PEPE by Whale Precedes Significant Two-Figure Price Surge Within a Day

A whale wallet, known as 0x06b3, recently spent $2.68M to acquire 227.8 billion PEPE tokens, as reported by blockchain analytics platform Lookonchain. This massive investment came just hours before a significant price increase, leading to a shift in market momentum. The PEPE token's value surged by 15% within 24 hours and by 30% over the past week, spurred by the buying activity from this wallet.

On the technical front, PEPE/USDT formed a pattern where the price rejected the $0.00001 support level three times, signifying a firm base. Data from IntoTheBlock reveals that 57% of current PEPE holders are profiting, holding around 239.32 trillion tokens worth nearly $3.08 billion. This suggests a reduced risk of mass sell-offs from this group. Meanwhile, about 36% of holders are currently out of the money, which could potentially slow further upward movement.