Deep-pocketed cryptocurrency investors are snapping up large quantities of Pepe ( PEPE ) after the memecoin’s price plummeted.
Blockchain tracker Lookonchain discovered that three crypto whales purchased more than 2 trillion Pepe coins for more than $4 million.
“Three whales started buying PEPE after the price dropped.
0x50C1 withdrew 1.4 trillion PEPE ($2.76 million) from Binance at a price of $0.000002054.
0x2Baa used 223 ETH ($412,000) to purchase 212 billion PEPE ($429,000) at a price of $0.000001942.
0x3AE8 purchased 424 billion PEPE ($864,000) at $0.000001957 for 450 ETH ($831,000).”
Pepe is down 5.5% in the last 24 hours.
The meme token is down 56.97% from its all-time high of $0.00000431 reached on May 5. Pepe, the 60th largest cryptocurrency by market cap, is one of the hottest altcoins as of late.
In just a few weeks, Pepe has surged from its all-time low of $0.000000055142 set on April 18th.
Lookonchain previously noticed that some crypto whales gobbled up PEPE as the price began to surge, making huge profits on their investments.
“One SmartMoney bought 4 trillion PEPE at a cost of 2.1 ETH ($4,410) and made about $1.71 million!
And this guy also traded a lot of MEME coins.
SmartMoney discovered PEPE and bought 4 trillion PEPE for 2.1 ETH ($4,410) 6 hours after PEPE was listed.
After each PEPE price surge, he sold some of his PEPE instead of all of it. He sold a total of 3.27 trillion PEPE at $906,000 and currently holds 700 billion PEPE worth $808,000. ”
