After experiencing a sharp 10% price drop yesterday, the meme coin $PEPE saw significant activity from large holders, commonly known as whales.

Two whales notably withdrew a total of 548 billion $PEPE tokens, equivalent to $7.5 million, from Binance. 

After the $PEPE price dropped, 2 whales withdrew 548B $PEPE($7.5M) from #Binance.

0x8376 withdrew 330B $PEPE($4.5M) from #Binance 1 hour ago and currently holds 1.64T $PEPE($23.48M).https://t.co/I88hHuiLBT

0xa145 withdrew 218B $PEPE($3M) from #Binance 5 hours ago and currently… pic.twitter.com/Vd2yOTryT6

— Lookonchain (@lookonchain) May 30, 2024

The whale with the wallet address 0x8376 withdrew 330 billion $PEPE tokens, worth $4.5 million, and now holds a substantial 1.64 trillion $PEPE, valued at $23.48 million. Similarly, the whale identified as 0xa145 withdrew 218 billion $PEPE tokens, valued at $3 million, and currently holds 567.44 billion $PEPE, worth $8.12 million.

According to data from @intotheblock, despite the recent double-digit decline following an all-time high, over 96% of $PEPE holders are still in profit. This statistic positions $PEPE as the most profitable meme coin among the major players in the market.

PEPE climbs to the top memecoin spot!

-> As per @intotheblock data, even though $PEPE crashed double digits after its recent all-time-high, over 96% of holders are in profit
-> This makes $PEPE the most profitable memecoin amongst the major ones pic.twitter.com/jgnidpdTpO

— CryptoPotato Official (@Crypto_Potato) May 30, 2024

Today, $PEPE saw a 10% price recovery, rebounding from yesterday’s decline. This recovery highlights the resilience and strong interest in $PEPE among investors, particularly large holders who continue to accumulate and hold significant amounts of the token.

The recent whale movements and the high percentage of profitable holders underscore the volatile yet potentially lucrative nature of investing in meme coins like $PEPE. As the market continues to fluctuate, the actions of these large investors will likely play a crucial role in influencing price trends and market sentiment.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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