Crypto Whale Spent $10.4 Million on PEPE; Do They Know Something We Don't?

An enormous crypto whale transaction involving PEPE, the third-largest meme coin by market cap, has garnered considerable media coverage in the crypto community. Given the magnitude and other whale transactions conducted recently by PEPE owners and holders, some analysts suggest it might be time for PEPE owners to pay closer attention.
Spotonchain’s On-Chain Analytics Platform Reveals Crypto Whale Spends $10.4 Million On PEPE Spotonchain identified a wallet (3eAaAC3C9) which bought 1.238 Trillion PEPEs at Binance at an average price of $0.000008424 ($10.4 Million). Once these tokens had been purchased they withdrew them in two transactions; 322.5 billion PEPE was withdrawn first then 915.85 Billion later that same week.

At this writing, the whale had not moved its tokens yet – suggesting they might be looking to hold on for long term gains. Notable smart traders appear to have recently been amassing meme coin, likely anticipating significant price moves from it. Spotonchain recently unveiled two whales who withdrew 660.7 billion PEPE from Binance and MEXC respectively.
Spotonchain recently highlighted another whale who withdrew 322.248 billion PEPE ($2.68 million) for the first time from Binance for withdrawal, along with another who withdrew 322.48 billion PEPE from Binance in one day for withdrawal – both withdraws are noteworthy events for cryptocurrency users and cryptocurrency enthusiasts. Spotonchain further brought this matter up by drawing everyone’s attention to a trader that has been profiting off meme coin since last year – they claim this trader completed 8 trades totalling $917k profit!
PEPE has seen tremendous gains since its introduction this year and therefore warrants more interest from whale investors than just meme coin enthusiasts. According to CoinMarketCap’s data, this meme coin has made over 500% in gains year-to-date (YTD), suggesting further momentum within its bull market momentum. Furthermore, only over 200,000 traders own PEPE.
Price to Reach New All-time High (ATH) Soon
Crypto analyst Plazma recently suggested that PEPE’s all-time high could soon reach $0.00001074, as current trading levels for meme coin come within 20% of this level. Crypto analyst Yazan also hinted this may happen soon and asked his followers if they are ready for another leap forward for meme coin prices.

PEPE ranks currently as the thirty-fifth-largest cryptocurrency token by market cap and may further ascend as soon as a new all time high is reached. Analyst and trader Murad predicts that PEPE may reach into the top ten cryptocurrency tokens based on market capitalisation; specifically predicting it may unseat Shiba Inu (SHIB) and Dogecoin (DOGE) entirely from that spot onward.
At time of writing, meme coin is trading at approximately $0.000008615 on CoinMarketCap – down in comparison with its trading prices over the last 24 hours.

Price of token falls to $0.0000084 | Source: PEPEUSDT on Tradingview.com *Featured image by Gemini and chart from Tradingview.com.
Disclaimer: The article presented here is solely intended as educational. It should not be seen as an opinion by NewsBTC regarding whether to buy, sell or hold investments and naturally investing involves risks; for this reason we advise doing your own research prior to making any decisions based on information found herein and using such advice at your own discretion and risk.