The crypto community is abuzz with major purchases of meme coins by large investors, including a 375 billion PEPE acquisition.
Significant PEPE and WIF Transactions
According to SpotOnChain, address '0xf37' withdrew 375.35 billion PEPE worth $3.73 million from Binance. This marks the whale's first-ever PEPE accumulation. Other investors were also active, making significant WIF token transactions.
PEPE Price Action
The crypto market faced a significant sell-off at the start of the week, hitting meme coins hard. PEPE dropped to $0.0000081 but later slightly rebounded to $0.00001023. However, the coin is down 22% on the week.
Meme Coins Outlook
The active interest of large investors in meme coins indicates a growing interest in these assets. If the trend continues, they could see a boost in their market positions.
Whale purchases could signal a trend change in the meme coin market, making these assets ones to watch moving forward.
