PEPE Token Market Surges as Whales Increase Holdings Despite Price Dip

This, along with significant transfers involving Binance's hot wallet, suggests a rising demand for the token.

The PEPE token market saw a surge in activity as a noted whale increased his holdings despite the PEPE price dip.

This, along with significant transfers involving Binance’s hot wallet, point towards a rising demand for the token.

The PEPE whale, known for his "100% winning rate," continued to accumulate tokens even as the price fell. Despite a 55.6% decrease in the value of their initial position, this whale, now holding 1.134 trillion PEPE tokens, decided to add to his holdings. This approach aligns with his past strategy of buying more during market downturns, likely based on a long-term perspective.

The PEPE token has been experiencing unusual movements recently, with large-scale transactions and position increases drawing attention. An Ethereum address, identified as "PEPE Band Winning Rate 100% Whale," has been expanding his holdings despite ongoing market losses. This shift follows multiple transfers involving Binance’s hot wallet, showcasing the impact of large players on the token’s liquidity flow.

The rising demand for PEPE was once more evident when an Ethereum address moved 188.8 billion PEPE tokens, around $2 million in the day’s trading price, into his wallet. The token moves followed a series of transactions linked to Binance’s hot wallet.

Currently, this address controls 1.134 trillion PEPE tokens, valued at approximately $8.8 million.

How Large Whale Buys Influence PEPE

Despite the token’s value dropping by 55.6%, the whale decided to add to his position, including the 4.64 billion PEPE token transfer from Binance.

This approach of increasing his position during market dips has been consistent over the past five months, seeing the whale accumulate a total of 613.8 billion PEPE tokens at an average price of $0.00001331.

Although the current value of this position shows a loss of $2.18 million, the whale’s approach has been focused on long-term accumulation rather than short-term fluctuations.

Market Performance and Holder Activity

However, following these transactions, PEPE’s price faced challenges in the market, with its price declining by 3.86%, trading at $0.057282 as of the time of writing.

The token’s market cap has also decreased by 3.86%, now at $3.06 billion, while its trading volume has fallen by 25.21%, totaling $595.68 million. Despite the price dip, the volume-to-market cap ratio remains at 19.47%, indicating a moderate level of trading activity. The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.