Whales Accumulate 2.21 Trillion PEPE Tokens, Driving 9.323% Price Surge

Pepe's latest price was $0.00001329, up 9.323% in the last 24 hours. This surge in price has been accompanied by significant activity from large investors, or "whales," in the cryptocurrency market. A mysterious whale wallet, identified as 0x6ea, has accumulated a substantial amount of PEPE tokens, totaling 2.21 trillion. This wallet has been particularly active, withdrawing 420 billion PEPE tokens just two hours prior to the latest update. Earlier the same day, the wallet had already withdrawn 1.79 trillion PEPE tokens from Binance. This series of withdrawals has raised questions about the intentions behind such large-scale accumulation, with some speculating that it could be a strategic move by deep-pocketed traders or insiders with a bullish long-term outlook.

The accumulation trend is not limited to this single wallet. Another wallet, 0xaca, withdrew 96.9 billion PEPE tokens from KuCoin around nine hours before the first major withdrawal by 0x6ea. This broader accumulation suggests that multiple whales are positioning themselves in anticipation of a future rebound in PEPE's value. The total PEPE withdrawn from exchanges in a single day amounts to over 2.3 trillion tokens, indicating significant confidence from large investors despite the meme coin's volatility and lack of fundamentals.

Despite the recent downturn in the meme coin market, the large-scale accumulation by whales hints at a possible long-term bullish sentiment. Historically, whales tend to accumulate during dips and redistribute or sell during peaks, which could signal a strategy of buying the fear and riding the next market upswing. The recent surge in whale activity may also precede announcements, ecosystem developments, or coordinated social pushes, common tactics in the meme coin world to drive renewed hype.

In another significant development, a major PEPE holder resurfaced after a two-year silence, pulling over 2 trillion tokens from Binance. This move has ignited a fresh wave of interest in the meme coin, driving both price gains and trading volumes. On May 17, a whale initiated a major transaction involving PEPE tokens, withdrawing 1.79 trillion PEPE from Binance into a newly activated wallet. A day later, the whale withdrew another 420 billion PEPE tokens from the crypto trading platform. As a result, the whale has now removed 2.21 trillion PEPE tokens from Binance in two separate transactions during a 24-hour period. These actions have effectively reduced Binance’s PEPE reserves by about 2% and suggest a deliberate accumulation strategy, signaling the whale’s confidence in the token’s long-term value.

The withdrawals, directed into self-custody wallets, reflect a shift away from short-term speculation toward a buy-and-hold approach. This fresh wave of activity, driven by a large investor, reinforces PEPE’s status as a leading digital asset and places the token among the most closely tracked meme coins in today’s volatile market. The rally has also had ripple effects across the digital asset’s derivatives markets, with short positions betting against PEPE’s price surge facing liquidations. During the same period, long traders also saw losses. Open interest in PEPE futures jumped, topping $500 million—a level last seen in January. This data indicates a surge in market sentiment and trading activity, further underscoring the significance of the recent whale movements in the PEPE ecosystem.