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<p class="is-style-lead">BlackRock Fund, an investment fund managed by&nbsp;<a href="https://www.blackrock.com/us/individual" target="_blank" rel="noopener">BlackRock</a>, the world’s largest asset manager, has moved trillions of pepe coin (PEPE) tokens.&nbsp;</p>



<p>BlackRock withdrew 1.27 trillion PEPE, valued at $1.98 million, from the popular cryptocurrency exchange Binance and transferred them to four addresses.&nbsp;</p>



<p>This transaction was executed earlier today, on May 18, catching the attention of market observers.</p>



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<p>According to Lookonchain, the BlackRock Fund had previously profited immensely from its investment in PEPE.&nbsp;</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">1/ We noticed that BlackRock Fund withdrew 1.27T <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$PEPE</a> ($1.98M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Binance</a> to 4 addresses 2 hrs ago.<br><br>And BlackRock Fund made $2.39M(10x) on <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$PEPE</a> before! <a href="https://t.co/WgVnCGXpnt" target="_blank">pic.twitter.com/WgVnCGXpnt</a></p>&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1659079335620362241?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 18, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>They purchased 1 trillion PEPE tokens at an average price of $0.0000002431 on April 21. They sold the entire holding for an average price of $0.000002627 on May 5, netting $2.39 million in profits, a 10X return on investment.</p>



<p>The four addresses that received the withdrawn tokens are believed to be newly created by BlackRock Fund, as they share the same deposit address as blackrockfund3.eth.&nbsp;</p>



<p>Some participants believe that BlackRock has information that has led them to purchase PEPE tokens when others attempt to dump their PEPE holdings. Others think the PEPE was a plan created by big players aimed at profiteering alone.</p>



<p>PEPE is a meme token and has zero utility.</p>



<h2 class="wp-block-heading" id="pepe-holders-rising">PEPE holders rising</h2>



<p>Meanwhile, the number of unique wallets holding PEPE has been rising. According to Etherscan, there are 114,302 holders. This is a significant increase from April 17, when the holder count stood at 9,573.&nbsp;</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">Don’t like charts?..👇 <br> <a href="https://twitter.com/search?q=%24pepe&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$pepe</a> Holder Count:<br><br>April 17th &#8211; 9,573 <br>April 18th &#8211; 17,004 <br>April 19th &#8211; 26,882<br>April 20th &#8211; 32,344 <br>April 21st &#8211; 34,628 <br>April 22nd &#8211; 38,250<br>April 23rd &#8211; 41,548<br>April 24th &#8211; 43,089<br>April 25th &#8211; 44,192<br>April 26th &#8211; 45,456 <br>April 27th &#8211; 46,913 <br>April…</p>&mdash; 0xygenworld.eth (@ReignBoat) <a href="https://twitter.com/ReignBoat/status/1658597240666214400?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 16, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>While PEPE holders are in their hundreds of thousands, the number has been growing at a slower pace following the listing of the meme token on Binance, a cryptocurrency exchange. Previously, PEPE was only accessible via Uniswap. As such, traders had to acquire the token if they wanted to trade.</p>



<p>Despite this surge, there are concerns that PEPE prices might collapse in sessions ahead as meme culture fades and users, including notable figures such as BlackRock, exit, taking profits.</p>



<p>TradingView data shows that PEPE is down over 65% from May peaks. </p>



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BlackRock just moved $1.98m of PEPE from Binance

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