Deep pockets, big appetite. A major player in the cryptocurrency world has moved a lot of Pepe coins. According to reports, this whale, known as qianbaidu.eth, took out 506 billion Pepe tokens from the Binance exchange on March 26, 2025.
Big Appetite
That’s a lot of coins, worth about $4.4 million. This isn’t the first time this particular whale has played with Pepe; they previously made a good chunk of money, around $7.34 million, trading this meme coin.
qianbaidu.eth, an early PEPE buyer who once made a $7.34M profit (+110%), withdrew 506.2B $PEPE ($4.4M) from #Binance ~10 hours ago!
Now, the whale holds 699.8B $PEPE ($5.11M), with a floating profit of $164K (+2.8%).
Follow @spotonchain and track the whale’s two active… pic.twitter.com/8NRljYTIBs
— Spot On Chain (@spotonchain) March 27, 2025
Market Shows Some Strength
Why is Pepe suddenly attracting the attention of these major investors? As the story notes, Pepe has experienced some notable peaks in the past.
Its entire market value was $1.6 billion in 2023. It reached an even greater $11 billion in December 2024. These whales may be feeling more confident as a result of their previous performance.
More People Are Holding Pepe
The number of people holding the meme coin has also gone up recently. Reports indicate that 542 new Pepe holders appeared in March 2025.
While the number of people holding Pepe for a long time has decreased, the fact that new investors are coming in, combined with the whales’ buying activity, suggests there might be some renewed interest in the coin.
Some believe that this whale buying frenzy may be signaling that the price of Pepe may rise once more. They recall the way the price skyrocketed earlier, driven by internet hype. The only question is if this is just a temporary rise in price, or if Pepe may again experience a big spike like last time.
It’s worth remembering that cryptocurrencies, particularly meme coins such as Pepe, can be extremely volatile. What the big investors do may at times provide a clue as to where the market is heading, but it isn’t a promise.
People need to exercise caution and carry out their own research before doing anything about buying or selling.
Featured image from Gemini Imagen, chart from TradingView
Source link
Christian Encila
https://www.newsbtc.com/meme-coins/whale-grabs-506-billion-pepe-is-a-price-explosion-near/
2025-03-28 23:00:33
