Giant PEPE Whales Accumulate 881B+ Coins: What’s Happening?

• One whale bought 231.6B PEPE worth $2.9M from Kraken today.
• Nascent and another whale accumulated over 647 billion PEPE from Binance.
• One investor turned $494K into $5.3M within six months via PEPE.

Prominent crypto investors continue to accumulate the high-performing meme coin PEPE regardless of current market dynamics. The crypto surveillance platform Lookonchain called attention to the latest activity of a whale with wallet initials “0x689d6140.”

According to the update, this whale withdrew 231.6 billion PEPE, valued at over $2.9 million, from the U.S.-based Kraken exchange early today. The move followed a withdrawal of 36 billion PEPE from the exchange two days earlier.

Blockchain records reveal that this investor has accumulated PEPE since March, with total outbound transactions from Kraken exceeding 750.34 billion PEPE tokens, worth over $8.34 million. 

Remarkably, this accumulation has continued without any sales during PEPE’s uptrend and subsequent dip. For instance, the whale purchased 123.8 billion PEPE while the meme coin traded at an all-time high in late May. 

Amid significant price corrections, with PEPE’s value dropping by more than 28% since reaching its $0.00001718 ATH, the whale bought an additional 231.6 billion PEPE just 12 hours ago. Lookonchain estimates that the whale’s total acquisition over the last 90 days was at an average price of $0.00001111 per PEPE.

However, wallet “0x689d6140” is not the only prominent entity accumulating PEPE recently. Yesterday, Nascent, a team of builders who support early-stage crypto founders, acquired over 447.66 billion PEPE tokens from Binance. This followed a withdrawal of 4.48 million PEPE two days earlier. 

Additionally, Lookonchain identified another fresh wallet that stocked 202.4 billion PEPE from Binance on June 3. In total, whales have accumulated at least 881.67 billion PEPE this month. 

Meanwhile, Lookonchain reported a whale who deposited 365.96 billion PEPE worth $5.3 million into Binance for profit on June 4. This whale had previously withdrawn 365.96 billion PEPE worth $494,000 from the MEXC exchange in December 2023. Essentially, the investor turned $494,000 into $5.3 million in less than six months, achieving a profit of $4.82 million and an ROI of 976%.

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