There seems to be a thaw in the memecoin sector, with large investors actively buying up meme coins after the recent correction, hoping for significant profits.
Thus, analysts of the SpotOnChain platform discovered that the whale invested more than $10 million in the popular memecoin PEPE, provoking active discussions among members of the crypto community with its actions.
Crypto whale bought 1.24 trillion PEPE
Spot On Chain shared the details of the purchase with the audience. First a multisig wallet 0x1a2e64b8a1977bf018850b377020bc33eaaac3c9 moved 915.85 billion PEPE tokens worth about $7.75 million from Binance.
Over the next 28 hours, the same address made another transaction. In total, he withdrew 1.238 trillion coins from the centralized exchange, the total value of which was $10.4 million.
PEPE whale transaction. Source: SpotOnChain
PEPE is currently showing promising growth. Meme Coin has soared 29.70% over the past month, with Memcoin trading above its 50-day simple moving average and a healthy Relative Strength Index of 62.78 indicating stable market sentiment, bolstering investor confidence.
Source: Cryptocurrency
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