Meme Coin Whales on the Move: Stacking Up on PEPE, Dumping WIF

Whales continue to have a significant impact on the cryptocurrency market. Recently, some have accumulated large amounts of PEPE, while others have taken profits on their WIF holdings.

Data from Lookonchain reveals increasing demand for PEPE among large investors. In a recent transaction, two wallets, possibly belonging to the same entity, purchased over 190 billion PEPE for approximately $5 million in USDC.

This acquisition coincides with a price surge for PEPE, which surpassed $0.000026 for the first time on Saturday.

Whales have been actively buying PEPE in recent months, particularly since the US elections, where pro-crypto candidate Donald Trump emerged victorious.

In contrast, a large investor has taken a more cautious approach with WIF. Lookonchain data suggests a recent deposit of $9.5 million worth of WIF to Coinbase, possibly indicating an intent to sell.

If this investor does sell their WIF holdings, they could realize a substantial profit of approximately $8.5 million, having accumulated the assets nearly a year ago.