PEPE Whale Takes Advantage of Meme Coin’s Current Discount

• Lookonchain revealed in a tweet today that a whale recently purchased 640 billion PEPE tokens.
• The whale’s purchase took place after the meme coin’s price plummeted due to growing rug pull fears.
• At press time, PEPE was changing hands at $0.0000008738 following a 24-hour loss of more than 20%.

A few hours ago, a Pepe (PEPE) whale used 320 Ethereum (ETH), worth $529,000, to purchase 640 billion PEPE tokens, according to a Twitter post shared earlier today by the on-chain analytics platform, Lookonchain. The post also revealed that the whale purchased the PEPE at an average buying price of $0.000001163.

A whale spent 320 $ETH ($529K) to buy 640B $PEPE again 3 hrs ago.

The whale also spent 280 $ETH ($507K) to buy 500B $PEPE on June 5 and spent 253 $ETH ($481K) to buy 164B $PEPE on May 6.

The average buying price is $0.000001163.https://t.co/9zRGywTADphttps://t.co/EiUQUrHWqc pic.twitter.com/BjReDraBgv

— Lookonchain (@lookonchain) August 25, 2023

This transaction followed this same whale’s previous transactions on 5 June 2023 where he spent 280 Ethereum (worth $507,000) to acquire 500 billion PEPE. Additionally, on 6 May this year, the whale invested 253 E…

The post PEPE Whale Takes Advantage of Meme Coin’s Current Discount appeared first on Coin Edition.