In the last 11 hours, three crypto wallets made substantial purchases of PEPE totaling $4.3 million. This has raised curiosity in the crypto community as all the funds originated from Tornado Cash, a tool known for transaction privacy.
Transaction Details
Three crypto wallets drew attention by making purchases worth $4.3 million, acquiring the popular meme coin PEPE. All the funds originated from Tornado Cash. The wallets involved:
* **0x7A7D**: Spent 1,413.4 ETH (approx. $2.72M) to acquire **437.7B PEPE**. * **0x9212**: Spent $1M to buy **158.58B PEPE**. * **0x7779**: Spent 299 ETH ($574K) to purchase **93.51B PEPE**.
Whale Accumulation or Manipulation?
The movement of large sums into PEPE suggests that these wallets could belong to crypto whales looking to accumulate the token at current price levels. PEPE is known for its volatility and meme-based appeal, attracting significant speculative interest. If these wallets belong to a single entity, it could indicate a strategic move to gain control over a significant supply of PEPE.
Questions About Tornado Cash
The fact that the funds came from Tornado Cash raises questions about the buyers’ intent. Tornado Cash has been controversial due to its use in anonymizing transactions, sometimes linked to illicit activities. However, it is also used by privacy-conscious traders who do not wish to disclose their financial movements.
Whether these purchases are for investment purposes or market manipulation remains unclear, but the crypto community will be closely watching for any further movement of these tokens.
