Main navigation

Pepe Whales Cause Waves with Billion-Dollar Buy

Thu, 07/27/2023 - 06:13
article image
Alex Dovbnya
Two crypto investors, or 'whales,' have made high-stakes gamble on struggling Pepe cryptocurrency, purchasing collective 1.56 trillion tokens for total of 1,100 Ether ($2.06 million)
Pepe Whales Cause Waves with Billion-Dollar Buy
Cover image via
Read U.TODAY on
Google News

The infamous Pepe cryptocurrency (PEPE) witnessed significant whale activity yesterday, with two major investors collectively purchasing a staggering 1.56 trillion tokens that amount to 1,100 Ether ($2.06 million), acording to blockchain analytics firm Lookonchain.

The first whale, operating under the moniker "yougetnothing.eth," acquired 874 billion Pepe tokens for 600 Ether ($1.12 million), followed by a second whale, identified as "0x4631," who invested 500 Ether ($936,000) to amass 685 billion tokens.

Just three months ago, in May, the Pepe token reached its all-time high at $0.00000431. However, it has since plunged 68% from this peak, creating an environment of wary speculation and diminished investor confidence in the meme-based digital asset.

Ripple Unleashes Power of Stablecoins in Bold Experiment

Over the past week, the Pepe token has suffered further setbacks, depreciating 12.4%. This makes it one of the worst-performing coins among the top 10 cryptocurrencies. This plunge has shaken the market and left analysts and investors questioning the rationale behind the recent billion-dollar buy by crypto whales. It is a surprising move that starkly contrasts the current market sentiment and performance of the Pepe token.

Despite its recent downfall, the Pepe token still holds a robust market cap of approximately $569 million, with a 24-hour trading volume of $122 million.

The recent purchase by whales may be viewed as a vote of confidence or a speculative bet, depending on one's interpretation. It will be interesting to observe whether this large-scale acquisition catalyzes a recovery in the price of the Pepe token or if it continues to falter on an unpredictable crypto market.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at