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Whale Wallets Accumulate $30.5M in PEPE Tokens Amid Market Dip

Coin WorldSunday, May 18, 2025 12:21 pm ET

1min read

A mysterious whale wallet, identified as 0x6ea, has accumulated a substantial amount of 2.21 trillion PEPE tokens, valued at approximately $29.24 million. This accumulation comes amidst a market dip, where PEPE's price has decreased by over 8%. The wallet recently withdrew 420 billion PEPE tokens, worth around $5.39 million, just two hours ago, following an earlier withdrawal of 1.79 trillion PEPE tokens, valued at $22.35 million, from Binance. This series of withdrawals raises questions about whether this is a bullish signal or an exit plan by the whale.

The accumulation trend is not limited to wallet 0x6ea. Another wallet, 0xaca, withdrew 96.9 billion PEPE tokens, worth around $1.28 million, from KuCoin approximately nine hours before the first significant withdrawal by wallet 0x6ea. This broader accumulation suggests that multiple whales may be positioning themselves for a potential rebound in PEPE's value. The total PEPE withdrawn from exchanges today amounts to over 2.3 trillion tokens, or more than $30.5 million in market value.

Despite the recent downturn, with PEPE's price falling 8.2% in the last 24 hours and 5.5% in the last week, the large-scale accumulation by whales hints at a possible long-term bullish sentiment. Historically, whales tend to accumulate during market dips and redistribute or sell during peaks. This recent surge in whale activity could indicate a strategy of buying during fear and riding the next market upswing, especially as meme coins often see rapid rebounds when market sentiment shifts.

PEPE has shown the capability for explosive rallies, surging over 69.2% in the past month. However, with the rally cooling down, many short-term holders are likely taking profits, contributing to the current downturn. Long-term holders and whales may view this as a re-accumulation phase rather than a peak. Removing tokens from exchanges typically signals an intent to hold rather than sell, reducing circulating supply and potential sell pressure. Such moves often precede announcements, ecosystem developments, or coordinated social pushes, common tactics in the meme coin world to drive renewed hype.

With over $30 million in whale-led outflows in a single day, the market is closely watching the next moves. This accumulation could lead to another meme coin rally or be a stealthy exit before deeper losses. Regardless, the on-chain activity indicates that someone is betting big on PEPE. Investors and traders should monitor closely for any upcoming catalysts or whale movements, as tides can shift fast in the world of meme coins, and whales often ride the wave first.

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