Crypto whales buy PEPE for millions of dollars

Major cryptocurrency investors continue to buy large amounts of the PEPE meme coin.

According to data on Lookonchain crypto whale recently withdrew 231.6 billion PEPPER , worth over $2.9 million, from the popular exchange Kraken. The move came shortly after a previous withdrawal of 36 billion PEPE from the same exchange two days earlier.

It should be noted that this investor accumulates PEPE without selling, both during the spike in the coin's price and during the subsequent decline. For example, the whale bought 123.8 billion PEPE when the meme coin peaked at the end of May.

Despite significant price declines, the whale continued to buy, adding 231.6 billion PEPE on Sunday. Lookonchain estimates that the average cost of acquiring tokens from this whale over the past 90 days was $0.00001111.

Nascent, a company that supports early-stage crypto projects, also recently acquired over 447.66 billion PEPE from Binance.

Additionally, Lookonchain identified a new wallet that bought 202.4 billion PEPE from Binance on June 3rd. In total, the whales collected at least 881.67 billion PEPE this month.

Lookonchain also reported a whale depositing 365.96 billion PEPE worth $5.3 million into Binance on June 4th. This whale had previously withdrawn 365.96 billion PEPE, valued at $494,000, from the MEXC exchange in December 2023. This investment turned $494,000 into an impressive $5.3 million in less than six months.