• A whale named “cookislandstrust.eth” bought 420 billion PEPE during market dips, now seeing significant profits.
• A cryptocurrency analyst has given bullish predictions for Pepe Coin, reflecting growing interest and potential in the token.

According to a post by Spot On Chain on X, there has been a huge move in the cryptocurrency sector regarding Pepe Coin, a popular meme coin. A whale, known as “cookislandstrust.eth,” has been actively buying PEPE amid drops, indicating confidence in the token’s prospects.

A whale named “cookislandstrust.eth” is trying to buy $PEPE at dip again!

In the past 7 days, the whale has spent a total of 3.13M $USDT to buy 420B $PEPE on 2 occasions, including the big dump on Aug 5 and 2 hours ago, now making $170K (+5.4%).

The whale also spent 7.05M $USDT… pic.twitter.com/QVnbW5AGYz

— Spot On Chain (@spotonchain) August 12, 2024

Whale Spends 3.13M USDT to Buy 420B PEPE During Market Dips 

This whale has spent a total of 3.13 million USDT over the last seven days to acquire 420 billion PEPE tokens through two distinct transactions. These transactions occurred on August 5 and 12, which were severe market downturns. This smart decision has resulted in a profit of $170,000, a 5.4% increase.

Furthermore, this whale has not limited its actions to PEPE alone. On August 5, around the market’s trough, the whale spent 7.05 million USDT to buy 2,978 ETH. This maneuver has proven to be highly profitable, as the whale now earns $534,000, representing a 7.58% gain.

Such activities by a well-known whale frequently draw attention from the community, as they may imply possible bullish trends or high support levels for the tokens involved.

As of writing, PEPE is trading at $0.000008178, up 3.09% over the last 24 hours. This jump has increased its market cap to roughly $3.44 billion, demonstrating that the token is gaining attention and investment despite the larger market volatility.

Earlier this month, CNF reported on another major whale transaction in which a whale transferred 400 billion PEPE into Binance. This action resulted in a significant profit of $5.85 million, representing a stunning 230% return on investment (ROI).

The same whale withdrew 795.92 billion PEPE from Binance on March 1, for a total of $2.55 million. These large-scale movements by whales can frequently have a significant impact on the market, influencing both price action and investor mood.

Furthermore, as we previously highlighted, a well-known crypto analyst has provided bullish predictions for PEPE, as well as other tokens such as WIF and POPCAT.