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Monday, June 10, 2024
HomeCryptoWhales buy $8 million PEPE dip, pushing token price up 4%

Whales buy $8 million PEPE dip, pushing token price up 4%

Crypto whales have shown strong interest in memecoin Pepe (PEPE), purchasing over $8 million in tokens during the price adjustment period.

Onchain data shows a wallet linked to investment firm Nascent has buy 447.67 billion PEPE from Binance, for a total value of about $5.5 million as of June 7. The move made PEPE the largest asset in Nascent’s portfolio, surpassing Maker (MKR) and Tether USD (USDT), holding $2.98 million and $973,557, respectively.

Source: Spotonchain

Another important transaction occurred on June 8 when an unidentified whale was caught buy 231.64 billion PEPE worth about 2.9 million USD from Kraken.

β€œIn total, whales have purchased 750.34 billion PEPE ($8.34 million) from Kraken at an average price of 0.00001111 USD since March 16,” Lookonchain said.

These significant purchases come as PEPE price has recently been consolidating after seeing a notable rally in late May due to renewed interest in the broader memecoin sector fueled by the return of Roaring Kitty financial analyst.

After hitting an all-time high at $0.00001717 on May 27, PEPE has consolidated around the $0.0000149-$0.0000134 range. However, at the time of writing, the token price is trading at $0.0000127, up 4% on the day, after a precipitous plunge to $0.0000119 on June 9.

Annie

According to Beincrypto

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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