- Whale continues accumulating PEPE despite market losses, increasing position over five months.
- Recent transactions linked to Binance’s hot wallet highlight major players’ involvement.
- PEPE’s price dips by 3.86%, but trading activity remains moderate with a 19.47% ratio.
The PEPE token market saw a surge in activity, with a notable whale increasing their holdings despite PEPE price dip.
This, along with significant transfers involving Binance’s hot wallet, suggests a rising demand for the token.
The PEPE whale, known for its “100% winning rate,” kept on accumulating tokens, even as the price fell. Despite a 55.6% decrease in the value of their initial position, this whale, now holding 1.134 trillion PEPE tokens, continued to add to their holdings. This approach aligns with their past strategy of buying more during market downturns, likely based on a long-term perspective.
The PEPE token has experienced unusual movements recently, with large-scale transactions and position increases drawing attention. An Ethereum address, identified as “PEPE Band Winning Rate 100% Whale,” has been expanding its holdings despite ongoing market losses. This shift follows multiple transfers involving Binance’s hot wallet, showing the influence of large players on the token’s liquidity flow.
The rising demand for PEPE was once more evident when an Ethereum address moved 188.8 billion PEPE tokens, around $2 million in the day’s trading price, into its wallet. The token moves followed a series of transactions linked to Binance’s hot wallet.
Currently, this address controls 1.134 trillion PEPE tokens, valued at approximately $8.8 million.
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How Large Whale Buys Influence PEPE
Despite the token’s value dropping by 55.6%, the whale added to its holdings, including the 4.64 billion PEPE token transfer from Binance.
This approach of increasing position during market dips has been consistent over the past five months, with the whale accumulating a total of 613.8 billion PEPE tokens at an average price of $0.00001331.
Although the current value of this position shows a loss of $2.18 million, the whale’s approach has been focused on long-term accumulation rather than short-term fluctuations.
Market Performance and Holder Activity
However, following these transactions, PEPE’s price has faced challenges in the market, with its price declining by 3.86%, trading at $0.057282 as of the time of writing.
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The token’s market cap has also decreased by 3.86%, now at $3.06 billion, while its trading volume has fallen by 25.21%, totaling $595.68 million. Despite the price dip, the volume-to-market cap ratio remains at 19.47%, indicating a moderate level of trading activity.
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