A reputable analytics account reported about the emergence of a new large PEPE investor who withdrew a substantial amount of meme coins from Binance. The meme cryptocurrency, PEPE, experienced a nearly 7% increase in value today and a noteworthy development in the meme coin market.

The report reveals that a new crypto whale acquired 357.34 billion PEPE through Binance, equivalent to $2.9 million in fiat currency. In addition to this large transaction, a considerable amount of PEPE was transferred between anonymous wallets, and a significant sum was moved from an unknown address to a Kraken exchange wallet.

Furthermore, PEPE's value surged by approximately 7% initially, later experiencing a slight decline. Presently, PEPE is trading at $0.00000804. Meanwhile, VanEck, a renowned wealth management firm and Bitcoin ETF issuer, has introduced an index called MarketVector’s Meme Coin Index to track the top six meme coins in the market. This index includes popular meme cryptocurrencies such as DOGE, SHIB, PEPE, WIF, FLOKI, and BONK.

Despite the introduction of this new index, the prices of meme coins like Dogecoin and Shiba Inu have not been greatly impacted. Dogecoin dropped by 3.64% within the last 24 hours, and Shiba Inu remains stable at around $0.00002253.