Whales Purchase Over 303 Billion PEPE Tokens Worth $3.5 Million

Onchain Lens reports two whales spent over $3.5 million in USDT and USDC to acquire more than 303 billion PEPE, underscoring heightened accumulation activity.

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Summary

On September 13, Onchain Lens reported that two whale addresses purchased a combined 303.19 billion PEPE tokens valued at over $3.5 million. Address '0x7c8' spent $2.5 million USDT to acquire 213.46 billion PEPE, later transferring them to its main wallet. Address '0xe84' spent $1.018 million in USDC and USDT to buy 89.73 billion PEPE. The transactions highlight concentrated accumulation of PEPE by large investors.

Terms & Concepts
  • PEPE: A meme-based cryptocurrency token inspired by the Pepe the Frog meme, traded primarily on decentralized exchanges.
  • Whale: A term used in cryptocurrency markets to describe an individual or entity that holds large amounts of a specific asset, capable of influencing market movements.
  • USDT (Tether): A stablecoin pegged to the U.S. dollar, widely used in cryptocurrency trading for its price stability.