A notable transaction rocked the cryptocurrency market when a crypto whale reportedly invested $10.4 million in memecoin PEPE .
This significant investment comes amid a surge in market activity, which has sparked heated discussion about the future of this memecoin-inspired digital asset.
Crypto whales buy 1.24 trillion PEPE Token
Spot On Chain, a cryptocurrency analytics platform, highlighted the transaction. Details have emerged about a Multisignature wallet named 0x1a2e64b8a1977bf018850b377020bc33eaaac3c9 , which facilitated the transfer of a staggering 915.85 billion PEPE Token from Binance.
This initial transaction was valued at approximately 7.75 million USD, calculated at 0.000008466 USD per Token .
Over the next 28 hours, the same wallet made additional withdrawals. It has accumulated a total of 1.238 trillion PEPE Token from Binance. This chain of transactions cumulatively created an investment in PEPE worth $10.4 million.
Overall, the wallet withdrew 1.238 trillion PEPE through 2 transactions from Binance for an Medium of 0.000008424 USD (10.4 million USD) in the last 28 hours.
Currently, PEPE is showing promising market trends. Despite a slight decrease of 1.2% over the past 24 hours, memecoin is up 29.70% over the past month. With PEPE trading at $0.000008532, its position above the 50-day Simple Moving Medium and a healthy Relative Strength Index of 62.78 suggest stable market sentiment, bolstering confidence of investors.
The significant Capital inflows into PEPE highlight the growing interest in niche cryptocurrencies. Indeed, these tend to benefit from strong community support and meme based appeal. PEPE 's unique frog-themed brand has been loved by a wide audience, contributing to the growing appeal of digital currencies.
Although the whale's motives are yet to be revealed, market analysts suggest that investors can take advantage of memecoin's growing potential to diversify their portfolios and exploit the opportunities of market.
