Whales Dive Into PEPE Despite Market Slump – What Are They Seeing?
A newly activated crypto wallet has caught the attention of on-chain analysts after snapping up an enormous amount of PEPE tokens — even as the token faces a sharp downturn.
Blockchain tracking shows that a whale wallet labeled 0x6ea made a massive withdrawal from Binance, acquiring 1.79 trillion PEPE tokens worth over $22 million. Despite the significant buy, the token’s price continued to fall, trimming the whale’s holdings to around $21.9 million at press time.
PEPE, a prominent memecoin, has been hit hard in the latest altcoin market correction, shedding 8% in just 24 hours to trade around $0.00001222.
The broader downturn has especially impacted memecoins, with Pi Coin taking the steepest dive among the top 100 — down 11% on the day.
Interestingly, this wasn’t the only major PEPE buy recently. Prior to the 0x6ea transaction, another wallet — 0xaca — acquired nearly 97 billion PEPE tokens via KuCoin, spending approximately $1.28 million.
While the memecoin market reels, some whales appear to be treating the dip as an opportunity to accumulate at a discount — raising questions about whether these high-stakes purchases are bets on a rebound or signals of deeper market strategy.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
