A crypto market observer on X has spotted multiple whale acquisitions of PEPE, the frog-themed meme coin. In a recent post, the observer highlighted transactions involving four whales who recently invested in the meme coin, suggesting the return of significant bullish momentum for the cryptocurrency.
作为 Memecoin 龙头，12 月以来就有 5 个巨鲸对 $PEPE「下了重注」，你可以在这里找到其他四位的成本和建仓详情👇1️⃣「低买高卖 $PEPE 获利 624 万美金的巨鲸」12.21 重新建仓 2500 亿枚 PEPE，成本 $0.000016972️⃣ 地址 0x53A…63F4A 于 12.16 首次建仓 2301 亿枚…— Ai 姨 (@ai_9684xtpa) December 22, 2024
The observer’s highlights include a whale who became famous after making a $6.24 million profit from a previous PEPE transaction. According to the observer, the same whale recently bought 250 billion PEPE meme coins at an average price of $0.00001697. Meanwhile, another PEPE whale added 230.1 billion of the meme coin tokens to his portfolio at an average price of $0.00002455.
Apart from the previous two whales, the crypto market observer spotted a whale with an 85% winning rate who recently opened a 788.2 billion PEPE position at an average price of $0.00002394. He also identified a fourth whale who recently purchased 1.129 trillion PEPE, equivalent to $3.68 million. The fourth whale bought the meme coin for an average price of $0.00001647.
The observer’s spotted acquisitions highlight investors’ bullish sentiment toward PEPE despite the meme coin’s recent pullback. PEPE retraced by over 49% after reaching a $0.00002836 all-time high in the first week of December. The frog-themed meme coin traded for $0.00001763 at the time of writing, reflecting a 22.5% rally from recent support.
Notably, PEPE’s recent support coincides with its previous high, reflecting a consistent pattern of higher highs and lows, with the preceding highs forming the base for subsequent rallies. It is worth noting that PEPE is one of the best-performing meme coins in the current bull cycle and has maintained a bullish momentum since its creation in 2023.