Pepe

Waves

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The infamous <a href="https://u.today/pepe-coin-attracts-major-investment-1" rel="noopener noreferrer nofollow">Pepe</a> cryptocurrency (PEPE) witnessed significant whale activity yesterday, with two major investors collectively purchasing a staggering 1.56 trillion tokens that amount to 1,100 Ether ($2.06 million), acording to blockchain analytics firm Lookonchain. 
The first whale, operating under the moniker "yougetnothing.eth," acquired 874 billion Pepe tokens for 600 <a href="https://u.today/bitcoin-btc-to-ether-eth-reaches-highest-level-since-july" rel="noopener noreferrer nofollow">Ether</a> ($1.12 million), followed by a second whale, identified as "0x4631," who invested 500 Ether ($936,000) to amass 685 billion tokens. 
Just three months ago, in May, the Pepe token reached its all-time high at $0.00000431. However, it has since plunged 68% from this peak, creating an environment of wary speculation and diminished investor confidence in the meme-based digital asset. 
<a href="https://u.today/ripple-unleashes-power-of-stablecoins-in-bold-experiment" rel="noopener noreferrer nofollow">card</a> 
Over the past week, the Pepe token has suffered further setbacks, depreciating 12.4%. This makes it one of the worst-performing coins among the top ten cryptocurrencies. This plunge has shaken the market and left analysts and investors questioning the rationale behind the recent billion-dollar buy by the crypto whales. It is a surprising move that starkly contrasts the current market sentiment and performance of the <a href="https://u.today/whales-shift-49-billion-shib-as-shibarium-hits-new-all-time-high" rel="noopener noreferrer nofollow">Pepe token</a>. 
Despite its recent downfall, the Pepe token still holds a robust market cap of approximately $569 million, with a 24-hour trading volume of $122 million. 
The recent purchase by the whales may be viewed as a vote of confidence or a speculative bet, depending on one's interpretation. It will be interesting to observe whether this large-scale acquisition catalyzes a recovery in the price of the Pepe token or if it continues to falter in the unpredictable crypto market.

Pepe Whales Cause Waves with Billion-Dollar Buy

U_Today

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