Lookonchain, a web3 data analyst, has provided insightful updates on the growing popularity of the memecoin Pepe. According to their latest data, a whale investor has accumulated a staggering amount of Pepe tokens, valued at $2.46 million or 962.3 billion. This significant investment highlights the widespread acceptance of Pepe in the crypto community. The whale investor has also purchased 70 WBTC and 470 ETH, totaling $2.07 million and $937,000 over the past few days. These figures demonstrate the increasing interest in Pepe and its potential for growth in the future.
As per a recent tweet from Lookonchain, a prominent whale in the crypto world has accumulated a substantial digital asset portfolio at an impressive average purchase price of $0.000003122, however, the current market value has resulted in a loss of $541k for the said whale.
Furthermore, Lookonchain has meticulously furnished the particulars of the whale’s investment portfolio, which boasts an extensive array of cryptocurrencies such as Pepe, USDC, ETH, WBTC, and more.
Since Pepe debuted on April 14, the memecoin with a frog-inspired theme has been making waves in cryptocurrency. Despite the official page of the digital currency providing a disclaimer, investors have been flocking to it in droves. The disclaimer, which reads as follows, has done little to deter the growing interest in Pepe:
$PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only.
The acquisition of substantial amounts of cryptocurrency by investors is becoming a frequent occurrence, and it’s worth noting that a relatively new player in the market is no exception. Lookochain recently reported a whale transaction involving the purchase of 414.72 billion Pepe tokens for 622 ETH. Even more surprising is that the same investor had made another colossal purchase of 5.55 trillion tokens the day before, as per Lookonchain’s analysis. These developments highlight the growing interest and confidence in the crypto market, and keeping a close eye on such trends is crucial.
