2023-05-11 14:14:19
The price of the PEPE meme coin has been trending steadily downwards since its peak on May 5, but that doesn’t seem to bother the whales. The project, which started on Uniswap, now has the largest traffic on Binance, and according to the data, insiders are betting that there is still power in the project.
According to a tweet from blockchain analytics tool Lookonchain, three whales began buying significant PEPE during the nearly 50% drop on Tuesday:
“3 whales started buying $PEPE following the price fell
0x50C1 transferred $1.4 Trillion PEPE ($2.76M worth) from #Binance when the price was $0.000002054.
0x2Baa bought 212 billion $PEPE ($429k worth) for 223 $ETH at $0.000001942.
0x3AE8 bought $424 billion PEPE ($864K) for $450 ETH at $0.000001957.”
According to data from CoinGecko nearly $400 million worth of PEPE has been traded in the past 24 hours – partly due to the extreme volatility of the meme coin. It can also be observed from the data that it is a significant part of the trading volume moved from Uniswap decentralized exchange to Binance crypto exchange. More than $130 million worth of PEPE coins changed hands on Binance, compared to 75 million on Uniswap. This is due, among other things, to the fact that Uniswap’s trading fees have skyrocketed, and Binance is much more popular among average users.
According to DEXTools the number of PEPE token owners crossed the “dream limit” of 100,000 on Tuesday, which may give rise to positive prospects for the project. The largest PEPE bag holders are not for the faint of heart, according to Coindesk’s calculations, many large investors are sitting on unrealized profits of between 4-9 million dollars.
1683845572
#PEPEs #coin #breaking #whales #started #buying