Whales accumulating PEPE, meme token rallies 20%

PEPE is steady at spot rates, likely because of whale activity. Trackers show that the meme token is up 8% on the last day, stretching gains by 20% in the past week. This suggests that trader sentiment is improving.

Lookonchain data on Sep. 29 reveals that PEPE whales have been accumulating. 

2 fresh wallets created 3 hrs ago spent a total of $801K to buy 1.08T $PEPE.

0x1f5d spent 335,349 $USDT to buy 456B $PEPE.https://t.co/SwYLyQTpS6

0x0a8f spent 465,839 $USDC to buy 629B $PEPE.https://t.co/YMsNn6h48y pic.twitter.com/MsrXzTeXaS

— Lookonchain (@lookonchain) September 29, 2023

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Three major transactions, totaling $1.5 million, were made on Sep. 28 to purchase PEPE. On Sep. 29, two new wallets spent over $800,000 to acquire 1.08 trillion PEPE. 

This guy who made $2.34M (38,860x) on $PEPE spent 390 $ETH ($645K) to buy $PEPE again 6 hours ago.

And this guy also spent 550 $ETH ($951K) to buy 1.04T $PEPE on Aug 29. pic.twitter.com/MCwOC2RwRA

— Lookonchain (@lookonchain) September 29, 2023

Meanwhile, another investor traded $645K worth of Ethereum (ETH) for PEPE. The same investor had previously bought 1.04 trillion PEPE in August and made over $2.3 million from the meme token earlier this year. 

Whale involvement can reassure investors, boosting confidence. PEPE holders were worried about a rug pull earlier this month.

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